- Implementation of CBAM Regulations: On 17 March 2025, the European Commission issued Regulation (EU) 2025/486 detailing the application of the Carbon Border Adjustment Mechanism (CBAM), which is essential for importers of specific goods like steel, aluminium, and cement to obtain CBAM authorized declarant status before importing into the EU.
- Application Process and Responsibilities: Importers must submit a standardized application for CBAM authorized declarant status, provide complete and accurate information, meet authorization criteria (including financial soundness and no tax arrears), and cooperate with ongoing evaluations. Applications will be processed within 120 days, with a right to appeal in case of denial.
- Preparation and Compliance: Businesses are urged to prepare documentation, monitor financial health, and submit applications promptly (by June 2025) to avoid disruptions in importing goods. Non-compliance can lead to refusal of status, penalties, or revocation of existing authorizations, emphasizing the importance of thorough preparation and understanding of the new regulations
Source Crowe
