12.22.22
Carbon border adjustment mechanism
Multiple countries internationally have been reviewing their fiscal policies with a view to advancing specific environmental agendas. This has been an evident global trend during 2022 and we expect this to continue in 2023.
Europe is no exception.
On 13 December 2022, a provisional agreement to implement an EU Carbon Adjustment Mechanism, which would be effective from 1 October 2023, with plans for a transition period, was proposed. The European Commission will look to spearhead the programme.
The mechanism would operate by applying a price on emissions relating to a wide range of goods. The underlying aim behind the proposal appears to be to reduce carbon leakage.
Tungsten will follow any developments in relation to the implementation of the proposed carbon border mechanism.
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Browse European Union updates
Strategic agenda EU Council published
- Country updates
Proposal for reduced rates for recyclable products
- VAT/G(S)ST rate information
Carbon Border Adjustment Mechanism (CBAM) draft law
- Other applicable taxes
Commission survey requesting e-invoicing feedback
- Country updates
Carbon border adjustment mechanism – CBAM (other taxes)
- Other applicable taxes
ViDA legislative process framework
- Country updates
EU and Singapore – Digital Partnership
- Country updates
VAT in the digital age – extension of feedback period
- Country updates
VAT in the Digital Age (ViDA) proposal
- Country updates
Carbon border adjustment mechanism
- Other applicable taxes