Improving CBAM declarations accuracy during transitional period of Carbon Border Adjustment Mechanism

• Improvement of accuracy of CBAM declarations during the transitional period of the Carbon Border Adjustment Mechanism
• European Commission evaluated data from reports submitted by obligated verifiers during the first year of implementation
• Discrepancies found in reported quantities of imported goods compared to customs data
• Errors cause concern as they distort statistics collected by the European Commission and may lead to unrealistic economic obligations
• Verifiers are advised to pay attention to details when submitting future reports
• Instructions include using English language for CBAM registry, reporting quantities in tons, and ensuring accuracy in numerical data
• Transitional period is educational and does not require retroactive correction of reports
• European Commission intensifies efforts to inform and educate verifiers for the final implementation period
• Utilize material available on the official EU website for CBAM
• Contact the General Directorate of Customs and Excise for further questions or clarifications via email or phone

Source: minfin.gov.gr

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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