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EU budget.
How the budget is financed?
99 per cent from own resources, the rest from other sources;
Expenditures must be matched by revenue;
Own resources are not allowed to exceed 1.23% of the EU's gross national income;
Own resources:
Traditional - customs duties on imports from outside the EU, agricultural duties, sugar and isoglucose levies; Member States retain 25 % of the amounts collected, to cover collection costs;
Value added tax - around 14 billion Euro per year; VAT call rate at 0.3 % (with, over the period 2007-13 only, a reduced rate of 0.225 % for Austria, 0.15 % for Germany and 0.10 % for the Netherlands and Sweden).
OR based on GNI - largest source of revenue - 92.7 billion Euro (2010); the overall ceiling for the total amount of own resources that may be assigned to the EU budget (1.24 % of EU GNI). Other revenues:
Taxes on EU staff salaries;
Contribution from non-EU countries;
Fines; National compensation mechanisms: the 'UK rebate' - the UK is reimbursed by 66% of the difference between its contribution and what it receives back from the budget. The calculation is based on its GNI and VAT;
lump-sum payments to the Netherlands and Sweden;
reduced VAT call rates for the Netherlands, Sweden, Germany and Austria; Financial framework 2007-13: http://ec.europa.eu/budget/figures/fin_fwk0713/fwk0713_en.cfm#cf07_13 Budget for 2012:
http://ec.europa.eu/budget/figures/2012/2012_en.cfm Financial framework for 2014-20:
http://ec.europa.eu/budget/reform/commission-proposals-for-the-multiannual-financial-framework-2014-2020/index_en.htm Vidoes:
http://ec.europa.eu/budget/biblio/multimedia/video/video_en.cfm#1@1-0-0-low http://www.youtube.com/watch?v=26DMatByVFk&feature=related
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