From the 1 October 2023 The Carbon Border Adjustment Mechanism came into force, CBAM (Carbon Border Adjustment Mechanism).

It is a carbon customs tax mechanism for products exported to the European Union, It is an instrument for the import of goods from outside the EU, addressing the risk of carbon leakage.

The CBAM will come into force from 2026, however, in 2023 A transitional period has begun in which EU importers will have to report the total carbon emissions embedded in the products they imported, during the last quarter of 2023.

The CBAM began to be applied temporarily on 1 October 2023 and the first declaration period for importers ended on 31 of January of 2024, expanded to 29 February 2024.

The products initially affected are: ci mention, iron and Steel, aluminum, fertilizers, electricity and hydrogen.

Consult the AEAT website enabled at this link: https://sede.agenciatributaria.gob.es/Sede/aduanas/prohibiciones-restricciones-operaciones-comercio-exterior-carbono/mecanismo-ajuste-frontera-carbono.html