As part of the ‘Fit for 55 package’ that was published on 14 July 2021 by the European Commission, a proposal for a European Union Carbon Border Adjustment Mechanism (‘CBAM’) was released. The CBAM will be a levy on the importation of certain goods (i.e. cement, iron and steel, aluminium, electricity, and fertilisers). It is envisaged that the CBAM will enter into force as per 2023, whereby a transition period will apply between 2023 and 2026.
Source PwC NL
Latest Posts in "European Union"
- EU Parliament Approves CBAM Reforms: New 50-Ton Threshold, Delayed Certificate Purchases to 2027
- Italian Tax Authorities Remove Non-EU Companies from VIES for Failing New VAT Guarantee Requirements
- ViDA: Transforming EU VAT with Harmonized e-Invoicing and Real-Time Reporting
- EU Court Ruling on Arcomet: Transfer Pricing Adjustments Pose VAT Risks for Companies
- Comments on ECJ C-121/24: Non-payment of declared VAT does not constitute VAT fraud