|Author (Corporate)||Council of the European Union|
|Series Title||Official Journal of the European Union|
|Series Details||L 165, Pages 9-14|
|Content Type||Legislation, Policy-making|
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).
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.
|Subject Categories||Economic and Financial Affairs, Taxation|
|Subject Tags||EU Budget, Multiannual Financial Framework [MFF], Value Added Tax [VAT]|
|International Organisations||European Union [EU]|