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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 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 | 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. |