EU own resources system and repeal of Decision 2020/2053

This procedure establishes the system of 'own resources,' which are the primary revenue sources used to fund the European Union's budget. It defines how the EU collects money to pay for its policies and commitments, ensuring the Union has a stable and predictable financial foundation.

This affects the EU's financial management and the contributions made by member states. It replaces previous funding decisions to modernize how the budget is financed.