First Reporting Period of the Carbon Border Adjustment Mechanism (CBAM) – Update

• The first reporting period of the Carbon Border Adjustment Mechanism (CBAM) has ended on December 31, 2023.
• Importers of affected goods are required to submit a CBAM report quarterly.
• The deadline for the mandatory submission of the first report is January 31, 2024, but it can be amended until July 31, 2024.
• The CBAM report can be created and submitted directly in the CBAM transitional register or uploaded there.
• Importers can fulfill their reporting obligation by using standard values until July 31, 2024.
• The German Environmental Agency’s sub-authority will be responsible for the administration of CBAM in Germany.
• German companies are still waiting for access to the CBAM transitional register and the National Service Desk.
• Companies should familiarize themselves with the requirements and start implementing CBAM as soon as possible.
• Due to the short timeframe, companies cannot wait for the availability of the German Environmental Agency’s Service Desk.

Source: awb-international.de

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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