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FP6 Financial Info & FAQs --> Project --> Costs --> Eligible Costs

As categories of eligible costs are not identified in FP6, eligible costs must be determined in accordance with the contractor’s usual accounting principles, as long as these Accounting Principles meet recognised standards and are not created purely for the EC contract.

 

The Commission says:

“…Eligible costs need to be actual, economic and necessary for the implementation of the project; determined in accordance with the usual accounting principles of the contractor; incurred during the duration of the project; and recorded in the accounts of the contractor (or, in the case of resources of third parties in the corresponding financial documents of those third parties); exclusive of any identifiable indirect taxes, including VAT or duties; exclusive of interest owed; and may not give rise to profit (see Article II.19 of the contract)…”

 

Please see:

http://www.finance-helpdesk.org/front/ShowCategory.aspx?ItemID=244  for more on this Topic.

 

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