In the interim period (1 October 2023 – 31 December 2025), importers of goods subject to the CBAM mechanism (also known as border carbon tax), or indirect customs representatives acting on their behalf, must file special reports.
By design, the CBAM (Carbon Border Adjustment Mechanism) is intended to address the problem of greenhouse gas emissions moving across EU borders. This is to be helped by an additional charge on imported products based on their carbon footprint. This, in turn, is supposed to allow CO2-related costs for goods imported into the EU to be offset. The same applies to EU goods covered by the EU ETS.
The relevant report shall be submitted for each quarter of the calendar year. It shall be submitted no later than one month after the end of the relevant quarter. The date of release of the goods into the customs territory of the EU shall determine in which quarter the goods should be reported.
Failure to report has serious consequences.
Article 16 of Regulation 2023/1773 requires Member States to impose financial penalties in the following cases:
when the covered notifier has not taken the necessary steps to comply with the CBAM reporting obligation,
when the CBAM report is incorrect or incomplete, and the covered notifier has not taken the necessary steps to correct the CBAM report, if a correction procedure has been initiated by the competent authority.
The amount of the penalty is between EUR 10 and EUR 50 per tonne of unreported emissions (the amount of unreported emissions will be determined by taking into account default values). Fines will be indexed in accordance with the European index of consumer prices.
With this in mind, it is clear that the risk simply does not pay off. Outsource your report to us. We will take care of everything comprehensively.