Default Values for the Transitional Period of the EU CBAM published


Good news! We have an early Christmas present from the Commission.

On 22 December 2023, the EU Commission published the long awaited Default Values for the Transitional Period of the EU CBAM between 1 October 2023 and 31 December 2025.

Do note that for each import of goods for which the reporting declarant does not have all the information, they may use default values until 31 July 2024.

So, the use of default values for the purpose of reporting during the transitional period is possible for the first three reporting periods, without quantitative limits.

  • Up until 31 July 2024, 100% of the total embedded emissions may be determined using default values. 
  • For the remaining transitional period (i.e. from 1 July 2024 to 31 December 2025), estimated values may be used but a quantitative limit is applied.

Businesses in scope of CBAM reporting may use these values to file their first mandatory CBAM report before 31 January 2024. 

The clock is ticking, but our PwC Belgium CBAM experts are actively engaged to support our clients with their CBAM compliance in the best time efficient approach possible. 

As long as there is the right guidance, and expert assistance, a lot is still possible to achieve in the few weeks after the new year’s break. 

Therefore, we highly recommend EU importers of CBAM goods to reach out asap should they be having any questions or concerns causing delays. Our experts in Global Trade and Customs Advisory and CBAM and decarbonisation are happy to help you!