The "Carbon Border Adjustment Mechanism", CBAM for short, requires special import declarations for products with high greenhouse gas emissions from October 2023. The CBAM regulations or the amendment to the Sustainability Reporting Directive (CSRD) place new demands on reporting systems and advisors. For JUVE Steuermarkt, Götz Kümmerle interviewed AWB founding partner Prof. Dr. Hans-Michael Wolffgang and his research assistant at the University of Münster, Helge Wieggrefe, among others, on the topic.
Excerpt from the article:
"It originally started at 10 euros per tonne of CO2 and is now already going up to 100 euros per tonne of CO2," reports the director of the Institute for Customs and Foreign Trade Law at the University of Münster and founding partner of the customs and VAT boutique AWB, Professor Dr Hans-Michael Wolffgang. However, free allowances are still being issued at the moment and emissions trading does not yet cover all sectors of the economy. If, from 2035, the benefits from such free certificates, for example, cease to apply, the costs are likely to rise. "Then it could become interesting for European business to move production to a third country where such regulations do not yet exist," says Wolffgang. CBAM is necessary to prevent such an exodus of companies.
The full article from 12.07.2023 can be found here: How the European Green Deal becomes global politics