In early September, the European Parliament formally approved the compromise agreement on CBAM simplification with 617 votes in favour, 18 against and 19 abstentions.

‍

MORE DETAILS

As a reminder, the amended CBAM Regulation sets a new annial de minimis mass threshold of 50 tonnes per importer, replacing the current threshold exempting consignments with a value of less than 150 euro.

This means that importers whose total annual imports of CBAM goods in scope (iron, steel, aluminium, cement, and fertilisers) remain below the 50-tonne cumulative threshold will be exempt from CBAM obligations. Importers making use of this exemption must indicate it in their customs declaration.

The new threshold exempts 90% of importers (mainly SMEs) who import only small quantities of CBAM goods, while still covering 99% of total CO2 emissions of goods in scope of CBAM.

‍

NEXT STEPS

The Council will now also need to formally approve the agreement before the Regulation can be published in the EU Official Journal and enter into force three days after its publication.

‍