Signing of the Luxembourg Treaty

During the European Council held in Luxembourg from April 20 to 22, 1970, the representatives of the member states of the Council of the European Community (CEC) signed the Luxembourg Treaty. Through this Treaty, the Council decided on the gradual introduction of a system of own resources whereby the Community would collect all customs duties on products imported from third countries, all levies on agricultural imports, and resources derived from value-added tax. The Council also decided to extend the budgetary powers of the European Parliament.