We have already informed you about the approval of the carbon border adjustment mechanism in an alert HERE. The legislation is now evolving and a draft implementing regulation has been published, which can be found HERE. The Implementing Regulation regulates in particular the rules for reporting in the so-called transitional period.
The first obligations for importers will apply as from 1 October 2023. Companies affected by the new legislation should therefore start preparing for the new rules without delay. We will be happy to guide you through the process from initial analysis to implementation.
If you have any questions, please contact the author of this article or the EY tax team with whom you regularly work.