revenue flowing automatically to the European Union budget, pursuant to the treaties and implementing legislation, without the need for any subsequent decision by national authorities
The Council, acting by means of regulations in accordance with a special legislative procedure, shall lay down implementing measures for the Union's own resources system in so far as this is provided for in the decision adopted on the basis of the third paragraph.
It defines ‘own resources’. These comprise —duties charged on imports from outside the EU and taxes on sugar production within the EU (known as ‘traditional’ own resources), —revenue based on a share of the value-added tax (VAT), a tax on consumption collected by EU countries, —revenue based on each EU country’s gross national income* (GNI).
With a view to maintaining budgetary discipline, the Commission shall not make any proposal for a Community act, or alter its proposals, or adopt any implementing measure which is likely to have appreciable implications for the budget without providing the assurance that that proposal or that measure is capable of being financed within the limit of the Community's own resources arising under provisions laid down by the Council pursuant to Article 269.
