Dear Readers,
Please be informed that the CBAM Regulation (the carbon tax) came into force in October 2023. We summed up basic information thereon in one of our previous articles. This EU regulation deals with reduction of emissions through a carbon compensation mechanism on borders applicable to firms that import selected commodities from non-EU countries, the production of which is extensive in terms of CO2 emissions (such as fertilisers, electricity, aluminium or cement).
Since 1 October 2023 when the Regulation came into force, the system has been in a transition phase (until 31 December 2025); in this phase, importers will have certain reporting obligations (on a quarterly basis). The system’s live operation will be launched on 1 January 2026; it will be necessary to register with a CBAM authority, to file reports and pay the carbon tax.
The first report will be filed by 31 January 2024 through a special electronic portal (for 4Q of 2023); hence, the reporting period is a calendar quarter with the filing deadline by the end of the month following the concerned month’s end. Please be advised that the Customs Administration published basic information on their website.
We recommend paying increased attention to this topic, and if the new duties apply to you, please feel free to contact us. We will be happy to help you.
Michaela Kozminská
kozminska@edmutilitas.cz