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New financing needs, not foreseen when the EU's long-term budget for 2021 to 2027 was finalised, have arisen in recent months, reflecting multiple crises. From the very outset, in 2021, implementation of the EU's 2021-2027 budget faced challenging circumstances, with the pandemic and its consequences. In response, the EU and its Member States mobilised €3.7 trillion overall, with the EU budget providing direct support of €70 billion to help EU citizens and enterprises, and countries outside the EU ...

During the November II plenary session, the European Parliament is due to adopt the European Union's general budget for 2022. In practice, Parliament will vote on the provisional agreement reached on 15 November 2021 during the budgetary conciliation between Parliament and the Council. If agreed, commitment appropriations for 2022 will amount to €169.5 billion and payments to €170.6 billion. The negotiations also reached agreement on Amending Letter No 1 to the 2022 budget (AL 1/2022) and draft amending ...

During the October II plenary session, the Parliament is due to vote on amendments to the Council's position on the draft EU budget for 2022. The 2022 budget is the second under the 2021-2027 Multiannual Financial Framework (MFF). It is also the second year of the EU Recovery Instrument, Next Generation EU (NGEU), planned to run for the years 2021 to 2023. The report of the Committee on Budgets reverses all the reductions proposed by the Council to the Commission’s budget. Furthermore, it proposes ...

Draft amending budget No 4/2021 (DAB 4/2021) to the EU's 2021 general budget updates the calculations for revenue following the entry into force on 1 June 2021 of Council Decision (EU, Euratom) 2020/2053 on the system of own resources of the European Union. DAB 4/2021 also incorporates the revised forecast of own resources and other revenue into the 2021 Union budget. The European Parliament is expected to vote on the Council position on DAB 4/2021 during its October II plenary session.

Draft Amending Budget No 3/2021 (DAB 3/2021) to the European Union's 2021 general budget aims to enter as revenue in the 2021 budget the surplus resulting from the implementation of the 2020 budget. The 2020 surplus totals almost €1.77 billion (as compared to €3.2 billion in 2019, €1.8 billion in 2018 and €0.56 billion in 2017). It consists mostly of higher than expected revenues, plus under-spending on the expenditure side. Inclusion of the surplus will reduce the gross national income (GNI) contributions ...

Over the past two decades, the European Union (EU) has been entrusted with a growing number of objectives and responsibilities. However, ensuring financing of related activities through the EU budget has often proven problematic, as this has long been capped at around 1 % of the Union's gross national income (GNI). During the preparation of the post-2020 EU multiannual financial framework (MFF), climate action, migration and border management were identified among the emerging priorities that required ...

During its March II plenary session, the European Parliament is scheduled to vote on three Council regulations that complete the architecture of the revenue system of the EU budget. The consent procedure applies to the implementing measures, while legislative opinions (consultation procedure) are to be adopted on the operational provisions. Prior to the votes, Parliament will hold a joint debate on the broader reform of EU own resources, for which a roadmap and guiding principles have recently been ...

Addressing the VAT gap in the EU

Briefing 17-12-2020

Among indirect taxes, value added tax (VAT) has the highest share in the Member States' indirect taxation revenues and is an important source of income for the EU budget too. Therefore, estimations and actions to narrow the difference between expected and actual VAT revenues – the VAT gap – are important. According to the European Commission, the EU VAT gap stood at €140 billion in 2018 and could fall below €130 billion in 2019. However, Covid-19-related containment measures have hurt Member States ...

The European Commission has proposed to amend the 2020 budget, increasing the level of payment appropriations related to the 'global transfer' exercise, adjusting the revenue side, and budgeting expenditure adjustments related to the European Agriculture Guarantee Fund and some decentralised agencies. The overall proposed impact of Draft Amending Budget No 10/2020 (DAB 10/2020) is an increase in payment appropriations of €1 569.3 million. The European Parliament is set to vote on the Council's position ...

Exception to the budgetary principle of universality, assigned revenues flatten at 10.5 % in last years. In the emergency European Recovery Instrument, “Next Generation EU”, put forward by the Commission EUR 500 billion are external assigned revenue. In 2021, contributions from “Next Generation EU” are planned to provide an additional EUR 211.3 billion of assigned revenue. in 2021, assigned revenue will surge to EUR 220 000 million in commitments and EUR 46 100 million in payments, from a total ...