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Budget (1) - Originally financed by contributions from the Member States, but after 1975 by a system of EC own resources, but these were not formally recognized until the Treaty on European Union. Budget revenue comes from several sources: levies on food imports into the EC; customs duties on non-agricultural imports; a Reference: Professor Derek Urwin, Department of Politics and International Relations, University of Aberdeen, Aberdeen, U.K., http://www.abdn.ac.uk/~pol028/index.htm Related Terms: Budget (1) - international | trade | Customs - A duty or tax paid on imported or exported goods; the process of inspecting imported or exported goods to determine if and how much duty is required; or an agency that performs customs duties.Related Terms: Customs - duty | export | import | international | tax | Customs Duties - Taxes collected by states upon imports to their territory. Abolished within the EC, they have been retained at EC external borders as a common external tariff (CET) and are regarded as EC own resources. Reference: Professor Derek Urwin, Department of Politics and International Relations, University of Aberdeen, Aberdeen, U.K., http://www.abdn.ac.uk/~pol028/index.htmRelated Terms: Customs Duties - international | trade | Customs Union - An economic structure whereby states agree to belong to a single tariff aream with no customs duties between them. The EC customs union was largely in place by 1968. Reference: Professor Derek Urwin, Department of Politics and International Relations, University of Aberdeen, Aberdeen, U.K., http://www.abdn.ac.uk/~pol028/index.htmRelated Terms: Customs Union - international | trade | Free Trade - Trade between nations without customs duties or tariffs.Related Terms: Free Trade - customs | duty | export | foreign trade zone | free trade zone | free zone | goods | import | international | merchandise | port | tariff | trade | Own Resources - The possession by the EC of financial resources which belong to them as of right, consisting of customs duties, levies on agricultural imports, and a proportion of the value-added tax (VAT) levied by the Member States. Reference: Professor Derek Urwin, Department of Politics and International Relations, University of Aberdeen, Aberdeen, U.K., http://www.abdn.ac.uk/~pol028/index.htmRelated Terms: Own Resources - international | trade |
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WWW Virtual Library of Logistics Ver 4, Sep, 1999, Matthew D. Cox, logistics@logisticsworld.com Sponsored by LogisticsWorld. Copyright © 1995, 1996, 1997, 1998, 1999 MDC, All rights reserved. |