CBAM is an integral part of the European Green Deal which aims to reduce carbon leakage and encourage cleaner industrial production in non-EU countries. Entrepreneurs will be subject to special reports and proceedings.
CBAM
CBAM - NEW REPORTING OBLIGATIONS
INFORMATION ABOUT CBAM
If you are an importer of selected products from outside the EU, from the product groups as listed below:
- cement,
- cast iron and steel,
- aluminium,
- electricity,
- fertilizers,
- chemicals.
YOU HAVE NEW REPORTING OBLIGATIONS!!!
From October 1, 2023, entrepreneurs importing the above products from outside the EU are obliged to new reporting.
The mechanism for adjusting border prices taking into account CO2 emissions, i.e. CBAM – Carbon Border Adjustment Mechanism, has entered into force.
The first such reports, for the fourth quarter of 2023, should have been submitted by January 3️1, 2️024.
Companies covered by CBAM reporting are welcome to contact our experts at DTA at: cbam@dta.com.pl
Please read the information below – if you have additional questions, please contact us. We will address any of your doubts about CBAM.
HERE IS THE SCHEDULE AND THE MOST IMPORTANT DETAILS REGARDING THE IMPLEMENTATION OF CBAM.
This roadmap illustrates the gradual and strategic implementation of CBAM, focusing on reporting and compliance in the initial phase before moving to full, broader implementation.
Adoption of the regulation:
The CBAM Regulation (EU 2023/956) of the European Parliament and of the Council was adopted on 10 May 2023 and entered into force on 17 May 2023.
Start of the transition phase:
The transition period for CBAM started on October 1, 2023 and is expected to last until the end of 2025.
During this period, importers are required to report emissions embedded in their imports subject to CBAM without any financial corrections.
Implementing Regulation:
The European Commission adopted the Implementing Regulation (EU 2023/1773) on 17 August 2023 laying down the rules for the application of the CBAM Regulation during the transitional period, including the emission assessment methodology.
CBAM operational register:
The CBAM Transitional Registry became fully operational on November 15, 2023.
This system is available to declarants of goods under the CBAM Regulation and to all competent authorities in the EU.
Reporting obligations:
Starting October 1, 2023, importers must report quarterly on greenhouse gas emissions embedded in imported products. The first reports were to be submitted by January 31, 2024!
Full implementation:
The final CBAM regime will begin on January 1, 2026. From that date, CBAM declarers will be required to purchase CBAM certificates and provide quarterly reports on embedded greenhouse gas emissions and annual CBAM declarations.
Extending the scope and compatibility:
By 2030, the scope of CBAM is expected to be extended to all product groups covered by the EU ETS or at risk of carbon leakage. CBAM is intended to be fully compliant with international trade requirements, although regulatory challenges are anticipated.
Gradual phasing out of free allowances:
The phasing out of free EU ETS allowances for the relevant sectors will take place in parallel with the phasing out of CBAM. This process starts in 2026 and ends by 2034.
Global impact:
CBAM is seen as a strong signal to the world that could prompt other regions to adopt similar mechanisms.
Its implementation is expected to intensify efforts to decarbonize greenhouse gas-intensive energy sectors.
WHAT ELSE CAN WE DO FOR YOU?
We do realize that import and export do not end with customs services. Therefore, by working with us, you can take advantage of many solutions that can save your time and money.
We have been operating on the market for over 30 years and supporting our clients in the following areas:
transport
We permanently cooperate with the best transport companies, we also provide similar services on our own, including: groupage line to and from the UK.
STORAGE (INCLUDING BONDED WAREHOUSES) AND LOGISTICS
We have nine warehouses located in Poland and the Netherlands, some of them have a permit to be used as bonded warehouses. We also provide full warehousing and fulfilment services for companies (labelling, packaging, shipping, returns handling).
ACCOUNTING
We support our clients in their accounting services and tax settlements.
business compliance
Together we can verify compliance with complex customs regulations in your trade processes. We offer audits and joint development of solutions.
COMPREHENSIVE LOGISTICS IN OTHER EUROPEAN COUNTRIES
Check us out at:
Great Britain – https://dtalogistics.co.uk/
Germany – https://dta-logistik.com/
The Netherlands– https://dtalogistiek.nl/
Ukraine – https://dta.com.pl/dta-ukraina/
DTA - CUSTOMS AGENCY - ALWAYS THE RIGHT WAY!
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