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Default values for determining embedded emissions during the CBAM transition period have been published
On 22 December 2023, guidance containing information on default values for determining embedded emissions during the CBAM transition period was published on the European Commission's website.
Among the most important provisions of the guidance we mention:
- The first three quarterly reports will be able to report embedded emissions based on default values made available and published by the European Commission without quantitative limit;
- From the third quarter report of 2024 until the end of 2025, it will continue to be possible to report embedded based on estimates, but only for complex goods and with a limit of 20% of total embedded emissions;
- Simplifications will be introduced in online reporting, for example:
- reuse of emission data for a product in subsequent reports;
- possibility of reporting information based on an XML file.
Among the default values for determining embedded emissions, we list:
The EY team is available for further details on the above.
Prepared by:
- Mihai Petre - Director, Indirect Tax
- Daniela Neagoe - Senior Manager, Indirect Tax
For additional information, please contact:
- Alex Milcev - Partner, Tax & Law Leader Romania and Moldova
- Georgiana Iancu - Partner, Indirect Tax Leader