Net revenue from the investments provided for under point 2 shall constitute revenue in the general budget of the European Union.

the net turnover, and

Net turnover during the past two financial years.

Net revenue from the investments provided for under Article 2 shall constitute revenue in the general budget of the European Union.

Net revenue from the investments provided for under point 2 shall constitute revenue in the general budget of the European Union.

Net proceeds accruing to the issuer from the issue and intended application of such proceeds, e.g. to finance the investment programme or to strengthen the issuer's financial position.

The net revenue will be committed to the general budget of the European Union as dedicated revenue and will be transferred from the ECSC in liquidation and, on completion of the liquidation, the Assets of the Research Fund for Coal and Steel when necessary to meet the obligations from the budget line directed to research programmes for sectors related to the coal and steel industry.

'net turnover:

In respect of investments in infrastructure projects of a type that would normally be expected to generate substantial net revenue, the SAPARD Agency shall assess, prior to entering into contractual arrangements with a potential beneficiary, whether the project is of this type.

in the second indent the words 'net turnover:

Net revenue which may be used to finance research projects corresponds to the annual net result of the ECSC in liquidation and subsequently, when liquidation has been completed, to the annual net result of the Assets of the Research Fund for Coal and Steel.

Net revenue available to finance research projects for year n+2 shall be recorded in the balance sheet of the ECSC in liquidation of year n and, on completion of the liquidation, in the balance sheet of the Assets of the Research Fund for Coal and Steel.

ECU 3 200 000' is hereby replaced by 'net turnover:

EUR 25 000 000' shall be replaced by the words 'net turnover:

whereas for the purpose of this Regulation, substantial net revenue should be tentatively defined as revenue higher than at least 25 % of the total cost of the investment concerned;

(iv) if the NCB has sold before the default valuation time the assets or equivalent assets at the market price, the net proceeds of sale, after deducting all reasonable costs, fees and expenses incurred in connection with such sale, such calculation being made and amounts determined by the NCB.

Accordingly, Article 29(3)(a) of Regulation (EC) No 1260/1999 should be amended so as to fix the maximum contribution of the Funds at 85 % of the total eligible cost for all the outermost regions, whether of a Member State covered by the Cohesion Fund or not, where this does not involve investments in infrastructure projects generating substantial net revenue or investments in firms.

Articles 11 and 27 of Directive 78/660/EEC and, by way of reference, Article 6 of the Seventh Council Directive 83/349/EEC of 13 June 1983 on consolidated accounts (3) and Articles 20 and 21 of the Eighth Council Directive 84/253/EEC of 10 April 1984 on the approval of persons responsible for carrying out the statutory audits of accounting documents (4) specify thresholds expressed in euro for the balance sheet total and the net turnover, at or below which Member States may grant derogations from certain provisions of those Directives.

The Governing Council shall instruct the NCBs to repay to the ECB part or all of the income already distributed during the year to the extent necessary to ensure that the total distribution for the year does not exceed the ECB's net profit for that year.

If the exporting producer had opted to offset its profit against the accumulated net losses, it would not have completed the section on non-taxable income which is only for income benefiting from BOI exemption.

'net turnover: ECU 3 200 000' is hereby replaced by 'net turnover: ECU 4 000 000';

'net turnover: ECU 12 800 000' is hereby replaced by 'net turnover: ECU 16 000 000'.

in the second indent the words "net turnover: EUR 6250000" shall be replaced by the words "net turnover: EUR 7300000";

'contractor's net proceeds` shall be as defined in subparagraph (f);

'attributable net proceeds` means the whole of the contractor's net proceeds;

'Contractor's net proceeds` means the contractor's gross proceeds less his operating costs and less the recovery of his development costs as set out in subparagraph (j).

an average number of employees during the financial year of less than 250, a total balance sheet not exceeding EUR 43000000 and an annual net turnover not exceeding EUR 50000000;

'Attributable net proceeds` means the product of the contractor's net proceeds and the ratio of the development costs in the mining sector to the contractor's development costs.

public undertakings whose total annual net turnover over the period of the two financial years preceding that in which the funds referred to in Article 1(1) are made available or used has been less than EUR 40 million.

The Authority's share of net proceeds shall be taken out of that portion of the contractor's net proceeds which is attributable to the mining of the resources of the area covered by the contract, referred to hereinafter as attributable net proceeds.

Net revenue which may be used to finance research projects corresponds to the annual net result of the ECSC in liquidation and subsequently, when liquidation has been completed, to the annual net result of the Assets of the Research Fund for Coal and Steel.

Net revenue available to finance research projects for year n+2 shall be recorded in the balance sheet of the ECSC in liquidation of year n and, on completion of the liquidation, in the balance sheet of the Assets of the Research Fund for Coal and Steel.

"net turnover" shall comprise the amounts derived from the sale of products and the provision of services falling within the undertaking's ordinary activities, after deduction of sales rebates and of value added tax and other taxes directly linked to the turnover;

During an initial period required for the enterprise to become self-supporting, which shall not exceed 10 years from the commencement of commercial production by it, the Assembly shall exempt the enterprise from the payments referred to in paragraph 1, and shall leave all of the net income of the enterprise in its reserves.

Net investment in the lease is the gross investment in the lease less unearned finance income.

to undertakings whose total annual net turnover over the period of the two financial years preceding any given year in which it enjoys a special or exclusive right granted by a Member State pursuant to Article 86(1) of the Treaty, or in which it is entrusted with the operation of a service of general economic interest pursuant to Article 86(2) of the Treaty is less than EUR 40 million;

Current and deferred tax should be recognised as income or an expense and included in the net profit or loss for the period, except to the extent that the tax arises from:

The Member States may permit the charges and income covered by these items to be set off against each other, so that only a net item (income or charge) is shown.

Tax expense (tax income) is the aggregate amount included in the determination of net profit or loss for the period in respect of current tax and deferred tax.

For the enterprises defined in section 3 of Annex 7 to Regulation (EC, Euratom) No 58/97, the production value is defined as turnover less insurance premiums payable, plus investment income, plus other income, plus insurance claims receivable, less total expenditure on pensions, less net change in technical provisions.

Exchange differences arising on a monetary item that, in substance, forms part of an enterprise's net investment in a foreign entity should be classified as equity in the enterprise's financial statements until the disposal of the net investment, at which time they should be recognised as income or as expenses in accordance with paragraph 37.

cumulative exchange differences relating to the translation of financial statements of foreign entities should continue to be classified as equity and should be recognised as income or expense only on the disposal of the net investment in the foreign entity;

Exchange differences arising on a foreign currency liability accounted for as a hedge of an enterprise's net investment in a foreign entity should be classified as equity in the enterprise's financial statements until the disposal of the net investment, at which time they should be recognised as income or as expenses in accordance with paragraph 37.

Each of the ECB's net profits or losses (if any), the NCBs' monetary income, the ECB's seigniorage income, the remuneration on the NCBs' claims equivalent to the foreign reserve assets transferred to the ECB and the remuneration on the intra-Eurosystem balances on euro banknotes in circulation, in relation to the financial year 2003 shall be allocated and distributed in accordance with the capital key weightings applicable on 31 December 2003.

The Commission considered that the components of this item which included certain income from its car-hire activities were derived from the sale of products and the provision of services by Wagons-Lits and were part of its ordinary activities.

Accordingly, in the consolidated financial statements of the reporting enterprise, such an exchange difference continues to be recognised as income or an expense or, if it arises from the circumstances described in paragraphs 17 and 19, it is classified as equity until the disposal of the net investment.

Gains or losses arising from the retirement or disposal of an item of property, plant and equipment should be determined as the difference between the estimated net disposal proceeds and the carrying amount of the asset and should be recognised as income or expense in the income statement.

In measuring its defined benefit liability under paragraph 54, an enterprise should, subject to paragraph 58A, recognise a portion (as specified in paragraph 93) of its actuarial gains and losses as income or expense if the net cumulative unrecognised actuarial gains and losses at the end of the previous reporting period exceeded the greater of:

A government grant that becomes receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the enterprise with no future related costs should be recognised as income of the period in which it becomes receivable, as an extraordinary item if appropriate (see IAS 8, net profit or loss for the period, fundamental errors and changes in accounting policies).