| Author (Corporate) | European Commission: DG Budget |
|---|---|
| Series Details | COM (2023) 331 |
| Publication Date | 20/06/2023 |
| Content Type | Policy-making |
Summary:Legislative initiative adopted by the European Commission on 26 June 2023, introducing amendments to Decision (EU, Euratom) 2020/2053 on the system of own resources of the European Union (EU). It amends an initial proposal adopted on 22 December 2021 Further information:In December 2020, the EU institutions agreed on a roadmap for the introduction of new own resources, taking account of NextGenerationEU. In that context, the European Commission proposed on 22 December 2021 three new sources of revenues for the EU Budget, tabling amendments to Council Decision (EU, Euratom) 2020/2053. It comprised contributions from the Emissions Trading System (EU ETS), from the EU Carbon Border Adjustment Mechanism (CBAM) and from a share of the residual profits of the largest enterprises that would be reallocated to the EU under the OECD/G20 Pillar One Agreement. The initial proposal on amending the system of own resources of the EU was based on sectorial draft laws that had been adopted earlier in the year. The original draft law was adopted by the European Commission on 22 December 2021, and it was endorsed by the European Parliament on 23 November 2022. However, the subsequent agreement on sectorial legislation required adjustments to the proposal. The amendments included a postponement of own resources from the new EU ETS, changes to national carbon tax and valuation mechanism, adaptations reflecting the adopted legislation on the CBAM, and the introduction of a statistical own resource based on national account statistics. The amended draft law was adopted by the European Commission on 20 June 2023 as part of an adjusted package addressing the new generation of own resources for the EU. |
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| Source Link | Link to Main Source https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2023:331:FIN |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | EU Budget |
| International Organisations | European Union [EU] |
