- Tungsten Automation has been monitoring the progress of the CBAM tax
- The tax aims to tax carbon emissions and promote environmental agendas
- The first emission values were due to be reported by 31 January 2024
- The tax is complex and communicating its complexities to impacted entities has been a challenge
- The European Commission has been providing guidance on the tax in a piecemeal approach
- This month, default values have been provided for reporting purposes
- The default values should help simplify the reporting process.
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.