The CBAM Regulation will come into force in October 2023. This Regulation introduces the carbon duty and applies to companies that import steel, aluminium, iron, cement, electricity, hydrogen, fertilisers and other commodities from non-EU countries. This list is expected to get extended in the future.
From October 2023 the relevant companies will have to file quarterly reports showing the quantity of imported goods/energy or the amount of both direct and indirect greenhouse gas emissions contained in the imported merchandise. The custom duty itself in the form of surrendering carbon certificates will be paid from 2026.
The proposal also contains conditions for companies that will be authorised to import the above-specified goods/energy. Such companies need to have an “authorised declarant” established in the EU.
The Regulation’s purpose is to establish a fair market environment where companies (and, as a consequence, imported goods) from non-EU countries will no longer receive favourable treatment.
If you want to receive more information about this topic, please feel free to contact us.
Lenka Kolmanová
kolmanova@edmutilitas.cz