- The FAQ document focuses on the transitional phase of the Carbon Border Adjustment Mechanism (CBAM) which started on October 1, 2023
- The EU is implementing the CBAM to fight climate change and prevent carbon leakage
- The CBAM Regulation was signed by the European Parliament and the Council on May 10, 2023
- The CBAM works by applying a fee on goods imported into the EU based on their embedded emissions
- Detailed guidance for the implementation of CBAM during the transitional period is available on the European Commission’s website
Source: taxation-customs.ec.europa.eu
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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