Clarification on CBAM Reporting Requirements
CBAM (Important Update): Clarification on Reporting Requirements On 20 October 2023, the Federation of Belgian enterprises (VBO/FEB) hosted a CBAM information session with the participation of the European Commission (DG TAXUD) and two Federal Public Services (FOD/SPF), Finances and Public Health. During the session, PwC raised an important question regarding the definition of the Reporting
CBAM – Implementing act approved and guidance released
On 17 August 2023, the European Commission adopted the Implementing Regulation for the Carbon Border Adjustment Mechanism (CBAM). The approved Implementing Regulation and accompanying guidance: Confirms the reporting obligations for the CBAM Transitional Period, which commences on 1 October 2023. Furthermore, it confirms that the CBAM reporting requirements and methodology will provide some flexibility when
Proposal published for a European Union Customs Reform: A new central EU Customs authority with a data-driven vision for a simpler, smarter and safer Customs Union
Today, 17 May 2023, the European Commission published its long awaited proposals for a complete overhaul of the European Union customs environment. As they write in their press release, it is the most ambitious and comprehensive reform of the EU Customs Union since its establishment in 1968. With these proposals the European Commission would like
The Carbon Border Adjustment Mechanism – It’s official!
Today, the CBAM (Carbon Border Adjustment Mechanism) was published in the Official Journal of the European Union. This means that there is no going back and that the regulation will enter into force as of tomorrow, 17 May 2023 and that it shall apply as from 1 October 2023. Read more on CBAM in our
CBAM gets green light from EU Parliament: a game-changer for carbon pricing and global supply chains
Earlier today, on April 18th, the European Parliament held its final vote on the Carbon Border Adjustment Mechanism (CBAM). CBAM is one of the elements of the EU Green Deal, the goal of which is to reduce GHG emissions by 55% by 2030. CBAM is aimed at ensuring a level playing field by equalizing the
New legal framework for excise and general arrangements – Council Directive 2020/262
A new legal framework for excise and general arrangements has been introduced by the Council Directive 2020/262, repealing the previous Directive 2008/118/EEC, which will be in effect as of the 13th of February 2023 with transitional provisions applicable until end 2023. What is new? Introduction of duty paid licenses Two new excise operator roles will
