Amending budget 5/2008: revision of the forecast of TOR (customs duties, agricultural duties and sugar levies) and VAT & GNI bases

On 19 June 2008, the Commission sent to the Council a preliminary draft amending budget (PDAB) No 5/2008.

This PDAB covers the following issues which result in a change in the apportionment between Member States of own resources contributions to the EU budget:

• revision of the forecast of traditional own resources (TOR, i.e. customs duties, agricultural duties and sugar levies) and of the VAT and GNI bases, as approved at the meeting of the Advisory Committee on Own Resources (ACOR) on 7 May 2008;
• entry in the budget of the first update of the 2007 UK correction and the final amount of the 2004 UK correction, as well as their financing.

On 22 July 2008, the Council established draft amending budget No 5 for the financial year 2008, as submitted by the Commission in its PDAB No 5 and as set out in the technical annex to this explanatory memorandum (see Doc. 11571/08 ADD 1).