We would like to inform you about a new legislation regarding the declaration of CBAM goods import. Starting from October 1, 2023, the Carbon Border Adjustment Mechanism (CBAM) will be gradually implemented. From this date, the transitional phase will begin. Starting at this moment, a quarterly report must be submitted, declaring that the importer is aware of the reporting obligation for these goods.
What is CBAM?
CBAM is a European regulation and part of the ‘Fit for 55’ package. This package aims to reduce greenhouse gas emissions by at least 55% by 2030. The EU currently has a system where producers in the EU must purchase emission rights for the CO2 emissions of their products. With the price correction of CBAM, these producers will no longer face a competitive disadvantage when importing from third countries where the costs for CO2 emissions are lower. The price correction is achieved through the mandatory purchase of a CBAM certificate for every ton of CO2. In addition, importers of CBAM goods must register and report on the CO2 emissions that occur during the production of goods.
Which goods are affected?
You can view the list of goods through this link: Eur-lex.europa.eu/homepage.html, and then search for CBAM.
What can you expect?
VSL will ask you if you are aware of this with the help of a declaration. You will receive a separate declaration from us that needs to be signed. This will enable us to process the declaration correctly.
Do you have any questions?
You can always contact us at customs@vslcustoms.nl. VSL is here to assist you.
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