The European Union Budget is financed largely by own resources provided by each member State, including Spain. These resources are: traditional own resources (standards governing their management are established by the EU, and Member States and Spain are limited to making the acquired finances available to the EU, withholding 20% of the total revenue in compensation for the management process, own resources coming rom VAT and own resources on the basis of GNI (which includes payment of the financial charge paid by Member States for the correction granted to the United Kingdom, and for the recognised reductions in their contributions to Denmark, the Netherlands, Sweden and Austria for the 2014-2020 period).
Spain also makes contributions under other EU Budget headings: service provision, fines and late payment interest.