The European Union’s (EU) Carbon Border Adjustment Mechanism (CBAM) requires foreign producers to measure, monitor, and report greenhouse gas (GHG) emissions embedded in imported products. Fundamentally, CBAM will subject foreign manufacturers to the same price per ton of embedded carbon emission limits that are imposed on domestic manufacturers under the EU’s Emissions Trading System (ETS).
The CBAM regulation entered into force in May 2023. Therefore, the first reporting phase of the CBAM regulation begins October 1, 2023, with importers required to submit their first reports by January 31, 2024, for the 2023 fourth-quarter period. The purchase of CBAM certificates (and therefore payments) begins January 1, 2026.
Source: www.ecoengineers.us
Latest Posts in "European Union"
- CJEU Ruling: VAT Treatment of Transfer Pricing Adjustments Between EU Member State Companies
- CJEU Rules Intra-Group Payments Under Transactional Net Margin Method Subject to VAT
- European Commission launches three new CBAM Calls for Evidence
- Comments on ECJ C-726/23 (Arcomet) – VAT Applies to Transfer Pricing Adjustments, Clarifying Deduction Requirements
- EU Sugar Taxes: Diverse Approaches to Reducing Sugary Drink Consumption Across Member States
