Council Regulation (EU, Euratom) 2021/769 amending Regulation (EEC, Euratom) No 1553/89 on the definitive uniform arrangements for the collection of own resources accruing from value added tax

Summary:

Regulation (EU, Euratom) 2021/769 - formally adopted by the Council of the European Union on 30 April 2021 - introducing amendments to Council Regulation (EEC, Euratom) No 1533/89 concerning the uniform collection of European Union's Own Resources accruing from Value Added Tax (VAT).

Further information:

This Regulation aims to simplify the Own Resources aspects of VAT - the focus is switched to standard-rate supplies, while the number of corrections are reduced to an absolute minimum and the financial compensations are removed.

The draft law was tabled by the European Commission on 2 May 2018 in the context of the legislative package for the Multiannual Financial Framework (MFF) 2021-2027. This Regulation constitutes an integral part of the reform of the Own Resources alongside Decision (EU, Euratom) 2020/2053, and it followed recommendations proposed by the High-Level Group on Own Resources. The Act was adopted by the Council of the European Union on 30 April 2021 and published in the Official Journal on 11 May 2021.

• Primary Source

Official

EUR-LEX: COM(2018)328: Proposal for a Council Regulation amending Regulation (EEC, Euratom) No 1553/89 on the definitive uniform arrangements for the collection of Own Resources accruing from value added tax https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2018:328:FIN

---