Tax Updates: December 12th 2023

Consistent with our commitment to provide updated information on current tax issues, we set down below a brief overview of the provisions of the new Regulation (EU) 956/2023 on the establishment of a Carbon Border Adjustment Mechanism – “CBAM”, as notified through E.2072/2023

In this edition (Download PDF , 0.19 MB)

• Which categories of goods are covered under CBAM?
• Exemptions from CBAM
• Persons liable to submit CBAM reports
• What is the implementation period and the associated obligations?
• Which is the reporting process during the transitional period?
• Which are the methodologies for the calculation of embedded emissions?
• How KPMG can help