Amending budget 7/2020: update of revenue (own resources)

The Council adopted its position on draft amending budget No 7 to the general budget for 2020: Update of revenue which aims to update the revenue side of the budget to take account of the latest developments.

It concerns:

- the revision of the forecast of Traditional Own Resources (i.e. customs duties), value-added tax (VAT) and gross national income (GNI) bases, and to budget the relevant UK corrections and their financing, which all affect the distribution of own resources contributions from Member States to the EU budget;

- updating other revenue such as fines and exchange rate differences.

Revenue accruing from traditional own resources (customs duties), VAT and GNI

- Total net customs duties for 2020 amount to EUR 18 507.3 million, which is a decrease of EUR 3 649.6 million compared to the 2020 budget forecast of EUR 22 156.9 million;

- VAT own resources for 2020 amount to EUR 17 344.3 million, a decrease of EUR 1 600.9 million compared to the 2020 budget forecast of EUR 18 945.2 million;

- own resources based on Gross National Income (GNI) for 2020 amount to EUR 114 898.2 million, an increase of EUR 5 533.1 million compared to the Budget 2020 forecast of EUR 109 365.1 million.

Total own resources amount to EUR 150 467 280 109.

Fines and penalties

The Council's position provides for an increase of EUR 118 million on the initial forecast in the 2020 budget (EUR 100 million). This will reduce accordingly the own resources contributions from Member States to the EU budget.

UK corrections

The DAB shall also include the calculation and financing of the 1st update of the UK correction for 2019, the 2nd update of the UK correction for 2018, the 3rd update of the UK correction for 2017 and the definitive amounts of the UK corrections for 2015 and 2016.