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Tax

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International corporate tax
The Netherlands’ tax regime is highly dynamic. Rules and the administrative courts raise new challenges in fiscal considerations on a nearly daily basis, both nationally and internationally.
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The increased attention for transfer pricing places greater demands on the internal organisation and on reporting.
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In this rapidly changing world, it is increasingly important to consider environmental impact (in accordance with ESG), instead of limiting considerations to financial incentives. Multinational companies should review and potentially reconsider their tax strategy due to the constantly evolving social standards
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Corporate Law
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Sustainability is more than a buzzword - it is the core of our legal advice towards sustainable success. From drafting sustainable contracts, integrating sustainable HR policies and ESG due diligence within our M&A practice to advising on ESG and other (national and international) legislation: we prefer to be pragmatic and proactive in helping your business.

Industries

Real estate & construction

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Family businesses

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Transport & logistics

The Netherlands is a real trading country, due to its location, infrastructure and the highly-educated population. The port of Rotterdam, the biggest port in...

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Maritime sector
How can you continue to be a global leader? The Netherlands depends on innovation. It is our high-quality knowledge which leads the maritime sector to be of world class.

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Introduction to CBAM

Are you prepared for the EU's new Carbon Border Adjustment Mechanism (CBAM) regulation? This mechanism is an EU measure introduced to prevent “carbon leakage”, which happens when companies move their production to countries outside the EU with less stringent environmental regulations. The EU achieves this by imposing a carbon tax on certain imported products, ensuring fair competition and encouraging businesses to reduce their carbon footprint. This regulation requires you to track and report the carbon dioxide impact of specific goods to the EU.

Are you interested in CBAM and do you want to learn more about it? Request our CBAM whitepaper.

Companies in scope

Since October 2023, EU importers must report the carbon emissions of certain goods imported from outside the EU. The following goods are covered by CBAM: cement, iron, steel, aluminum, fertilizer, electricity and hydrogen. Anyone who imports CBAM goods with a value above € 150 per shipment into the European Union from October 2023, will be required to report how much carbon emissions were emitted in the production of those goods, with full regulations coming into effect in 2026.

All authorised CBAM declarants are required to submit their annual CBAM declaration, detailing the carbon emissions of the imported goods, in the CBAM register after the end of the calendar year.

When to start implementing CBAM?

From 1 October 2023 until 31 December 2026, CBAM will be in a transitional phase. During this period, importers must report their carbon footprint, though no direct costs are yet associated with the reporting. This gives companies the opportunity to prepare for the full implementation of CBAM, scheduled for 1 January 2026. Failure to comply could lead to severe penalties.

Timeline

31 January 2024

Submission of first CBAM report

31 December 2024

'Authorised CBAM declarant'

Required for importers to apply for this status.

1 January 2026

Start of full CBAM year

CBAM authorisation required prior to import

CBAM compliance Quick Scan

Our Quick Scan provides you with a fast and thorough evaluation of your CBAM obligations, identifying any potential risks and offering practical next steps to ensure compliance, consisting of the following:

Implementation
Data review
Product range analysis

Deliverables

A customized compliance framework to manage CBAM effectively.
A data analysis report that highlights areas for improvement and provides actionable insights.
A clear product range assessment, ensuring you're focused on the right goods and saving you from unnecessary efforts.

We identify which of your imported goods are affected, analyze your product range, and provide a clear action plan. Our Quick Scan provides quick insights into your CBAM obligations, helping you mitigate risks and ensure early compliance. Contact us today to schedule your Quick Scan.

CBAM compliance advisory

We provide expert guidance and detailed support throughout your CBAM reporting process, ensuring your data is accurate, complete, and compliant with EU regulations, consisting of the following:

CBAM reporting assistance
Quality control
Compliance backlog check

Deliverables

Seamless data preparation with professional guidance at every step.
A comprehensive quality control report, ensuring your data is precise and reliable.
A compliance readiness check, highlighting any missing reports or gaps in supplier information, so you can fix issues before they escalate.

Our CBAM Compliance Advisory provides in-depth support for preparing and submitting accurate CBAM reports. We guide you through the reporting process, verify the quality of your data, and ensure all required details are properly documented. This service guarantees that your reports are complete and compliant, reducing the risk of penalties.

CBAM ongoing assistance

For companies seeking end-to-end support, our comprehensive service ensures that your CBAM compliance is not only managed but optimized. We provide ongoing assistance, strategic advice, and continuous improvements to keep your reporting streamlined and cost-efficient, consisting of the following:

Ongoing support
Initial and ongoing reporting
Strategic advisory
Training
Assisting in the communication with Local Authorities

Deliverables

Ongoing compliance assessment and ongoing reporting
Strategic advisory report
Training sessions tailored to your team’s needs
Ongoing support in relation to communications with local authorities.

Our CBAM Comprehensive Assistance provides ongoing, full-service support to ensure you stay compliant with all CBAM regulations. From initial assessments to continuous reporting, we work with you to optimize your supply chain, minimize costs, and develop strategic solutions for long-term compliance. We also offer training to your teams to ensure that compliance becomes a seamless part of your operations.

Further assistance

Communication with authorities:

Providing support in communication with local authorities for tasks such as registering EORI numbers, eHerkenning, reclassifying certain goods, correcting product codes and submitting BTI requests (non-exhaustive).

Ongoing support is crucial to ensure your company remains compliant with CBAM as such regulations typically evolve over time. We offer tailored guidance to keep your business on track.

Frequently asked questions and answers about CBAM

01 What is the difference between CBAM and EU ETS?

The European Union Emission Trade System is the trading system in Europe for the carbon emissions for industries within the EU, where companies can trade emissions allowances. This mechanism restricts and prices carbon emissions within the EU creating a market for emissions allowance. The CBAM aims to align the treatment of so-called embedded carbon emissions from the production of these goods outside the EU with the treatment of production within the EU covered by the EU ETS.

02 How much does CBAM cost and how is it calculated?

Companies importing goods covered by CBAM must buy certificates based on the carbon emissions embedded in those goods. Therefore, the cost of CBAM is highly dependent on your carbon footprint in tons as emitted. The calculation of this price will depend on future (to be designated) parameters. Moreover, it is important to underline that the costs in relation to CBAM is also dependent on the cost-enhancing administrative burden.

03 How do I file a CBAM declaration?

During the transition phase (2023 - 2026), the importer must submit quarterly CBAM reports. If the importer is a non-EU entity, the indirect customs representative is the designated party to file the CBAM report on behalf of the foreign entity. Starting in 2026, authorized CBAM declarants will be required to submit annual declarations detailing the carbon emissions of imported goods and purchase CBAM certificates accordingly. This obligation will be applicable for the “authorised declarant”: they must register with the authorities and meet various conditions. You submit the declaration via the EU portal: access requires e-recognition.

04 Does CBAM only apply to raw materials?

No, CBAM not only applies to raw materials but also semi-finished and finished goods, such as screws, bolts, nuts, and various other components used in manufacturing. It is important to verify if the goods you import are on the list of products fall under CBAM by checking the official product list and corresponding product codes. Failure to comply could result in financial penalties once CBAM is fully enforced.

05 Which emissions are covered by CBAM?

CBAM requires companies to report embedded greenhouse gas (GHG) emissions for all covered goods. Embedded emissions are the direct and indirect emissions from CBAM goods and the materials used in the production process. Although CBAM initially focuses on certain imported goods, it's part of a broader EU effort to price carbon emissions. In the future, CBAM could expand to include Scope 3 emissions, which cover indirect emissions throughout a company’s entire supply chain. This makes it crucial for businesses to start evaluating their full carbon footprint now.

Introduction to CBAM

Companies in scope

When to start implementing CBAM?