Explanations for the current and future TARIC data for the provisions of Regulation (EU) 2023/956 of the European Parliament and of the Council of 10 May 2023 establishing a carbon border adjustment mechanism.
- Introduction to CBAM: The Carbon Border Adjustment Mechanism (CBAM) mandates EU importers of certain goods to purchase digital certificates for carbon emissions embedded in their goods, based on the EU’s Emissions Trading System (ETS) prices. Initially, it covers aluminium, iron, steel, electricity, cement, and some fertilisers.
- Legal Basis: Regulation (EU) 2023/956, established on 10 May 2023, serves as the legal foundation for CBAM. Importers must submit quarterly reports on imported goods starting from 1 October 2023.
- Reporting Obligations: During the transitional period (1 October 2023 – 31 December 2025), importers must report the quantity and embedded emissions of imported goods quarterly. Customs authorities will inform importers of these obligations upon the release of goods.
- Full Implementation in 2026: From 1 January 2026, only authorised CBAM declarants can import goods covered by CBAM. Importers must annually declare the quantity of goods and embedded emissions and surrender corresponding CBAM certificates.
- TARIC Data During Transitional Period: The TARIC measure includes a footnote explaining reporting obligations. Importers must submit CBAM reports containing detailed information on imported goods and their emissions.
- Footnote TM967: This footnote outlines the reporting requirements under Article 35 of Regulation (EU) 2023/956, including details on the quantity and emissions of imported goods.
- Post-Transitional Period Measures: From 1 January 2026, TARIC measures will include specific document codes and conditions for CBAM compliance. Only authorised CBAM declarants can import covered goods.
- TARIC Document Codes: Various document codes (e.g., Y128, Y134) will be used to identify authorised CBAM declarants and exemptions based on specific articles of Regulation (EU) 2023/956.
- Conditions for Importation: Specific conditions must be met for importation, such as having an authorised CBAM account number or meeting exemption criteria (e.g., goods value below EUR 150).
- Exemptions and Restrictions: Certain goods are exempt from CBAM requirements, including those with intrinsic values below EUR 150 or used in military activities. Imports not meeting any conditions will be prohibited.
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