First CBAM declaration in January – Portal now live

• The transition period for CBAM started on October 1 and will last until January 31, 2025.
• The first CBAM report must be submitted in January.
• The European Commission has launched an electronic portal for registering CBAM goods.
• CBAM is a carbon adjustment mechanism at the EU’s border to prevent companies from relocating production to countries with less strict CO2 regulations.
• Registered importers will have to pay a price for the CO2 emitted during the production of imported CBAM goods starting from January 1, 2026.
• Certain goods, including cement, electricity, fertilizers, iron and steel, aluminum, and hydrogen, must be reported.
• The CBAM report should include information on the quantity of imported goods, greenhouse gas emissions, and carbon prices.
• The first CBAM report must be submitted in January 2024.
• The report should be submitted through the portal and comply with the EU monitoring method.
• The requirements for the first few reports have been relaxed, allowing for deviations from the EU method and the use of standard values.
• The European Commission will compare import declarations with CBAM reports and inform the Dutch Emission Authority (NEa) of any discrepancies.
• Non-compliance with CBAM reporting may result in fines.

Source: pkfwallast.nl

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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