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EU Introduces New Rules to Simplify Access to EU Funds Options
#1 Posted : Thursday, July 05, 2012 2:33:44 PM
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The European Parliament and the Council established new rules directed towards accessing EU funds, while at the same time safeguarding the treatment of the EU taxpayers’ money. Before entering into force, the formal adoption by the EP and subsequently by the Council is still required. This fiscal regulation of the EU followed the adoption of around 70 proposals for legislative acts covering different areas such as agriculture, research, environment, transport etc. The main aim of fiscal revision is to simplify access to the EU funds and at the same time assure more liability for the EU taxpayers. The new rules enable beneficiaries of EU funds easier access in terms of simplifying procedures and documentary requirements. The system of distribution of grants will be shifted towards performance-based scheme, as opposed to real-cost based management which is practiced at the moment, e.g. beneficiaries are no longer required to open separate bank accounts in order to receive funds for projects. In addition to this new rule, the Commission is accredited to initiate and run multi-donor EU trust funds for external action which will be used in times of emergency and crisis. The new rules of fiscal regulation are anticipated to inter into force at the beginning of the 2013. You can download the Press release here.

Source: BCSDN e-mail alert
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