- The deadline for submitting reports for the EU Carbon Border Adjustment Mechanism (CBAM) has been extended by 30 days.
- Businesses within the scope of the EU CBAM must comply with new compliance requirements or face penalties.
- Default values can no longer be used after July 2024 for reporting emissions data.
- The UK Government plans to implement a UK CBAM by 2027 for certain sectors.
- The UK Emissions Trading Scheme (ETS) is being reviewed for better targeting of carbon allowances and to incentivize decarbonization.
- Businesses must comply with the EU Regulation on Deforestation-free products (EUDR) by the end of the year.
Source: ey.com
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.
Latest Posts in "European Union"
- ECJ VAT C-409/24 to C-411/24 – Judgment – Reduced VAT Rate Excludes Non-Accommodation Ancillary Services
- ECJ C-436/24 (Lyko Operations) – Judgment – Loyalty Points in Customer Reward Schemes Are Not VAT Vouchers
- ECJ C-472/24 (Žaidimų valiuta) – Judgment – VAT Exemption Denied for Virtual Money Transactions
- ECG T-96/26 (TellusTax Advisory) – Questions – VAT deductions in the event of different VAT treatment between Member States
- VIDA Measures applicable from 1 January 2027
