EU Council Adopts Negotiating Position on New CBAM Exemption Proposal
The Council of the European Union on May 27 adopted a "general approach" to negotiate with the European Parliament on a measure that would exempt most importers from the new carbon border tax rules (see 2505230008). The proposal also would…
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simplify the carbon border adjustment mechanism rules for importers, the council said, including by simplifying "the authorisation procedure, the data collection processes, the calculation of embedded emissions, the emission verification rules, the calculation of the authorised CBAM declarants’ (parties wishing to import goods subject to the CBAM) financial liability during the year of imports into the EU, and the claim by authorised CBAM declarants for carbon prices paid in third countries." The council next will begin negotiations with Parliament.