Council Decision of 31 October 1994 on the system of the European Communities own resource

(*) OJ L 293, 12. 11. 1994, p. 9. The Decision was not in force on 1 January 1995.

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Community, and in particular Articles 201 thereof,

Having regard to the Treaty establishing the European Atomic Energy Community, and in particular Article 173 thereof,

Having regard to the proposal from the Commission (1),

(1) OJ No C 300,6. 11. 1993, p. 17.

Having regard to the opinion of the European Parliament (2),

(2) OJ No C 61,28. 2. 1994, p. 105.

Having regard to the opinion of the Economic and Social Committee (3),

(3) OJ NO C 52,19. 2. 1994, p. 1.

Whereas Council Decision 88/376/EEC, Euratom of 24 June 1988 on the system of the Communities' own resources (4) expanded and amended the composition of own resources by capping the VAT resources base at 55% of gross national product (GNP') for the year at market prices, with the maximum call in rate being maintained at 1. 4%, and by introducing an additional resource based on the total GNP of the Member States;

(4) OJ No L185,15. 7. 1988, p. 24.

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