Amending budget 5/2007: revision of the forecast of traditional own resources, VAT and GNI bases and the budgeting of the relevant UK corrections for 2003 and 2006

On 21 June 2007, the Commission forwarded to the Council Preliminary Draft Amending Budget (PDAB) No. 5/2007. This PDAB covers the following three elements:

• the revision of the forecast of traditional own resources (TOR, i.e. customs duties, agricultural duties and sugar levies), VAT and GNI bases and the budgeting of the relevant UK corrections (first update of the 2006 UK correction and the definitive amount of the 2003 UK correction) as well as their financing, resulting in a change in the distribution between Member States of their own resources contributions to the EU budget;
• the repayment of the surplus from the Guarantee Fund for external measures, amounting to EUR 260 940 125. The Member States' contributions of own resources based on GNI are reduced correspondingly;
• as a result of changes in the Financial Regulation and its implementing rules, three new budget lines (6330, 6331 and 6332) have been created and some budget remarks in the statement of revenue (concerning Articles/Items: 5000, 5001, 522, 6113, 6701, 6702, 6703, 6711, 6712 and 6802) have been modified.

On 13 July 2007, the Council established Draft Amending Budget No. 5 for the financial year 2007 as submitted by the Commission in its Preliminary Draft Amending Budget No. 5 and set out in the technical annex to this explanatory memorandum.