CBAM
See how CBAM
will affect your imports
Est. CBAM certificate € importing 100 tons of Aluminium products from Albania
Est. fine for not complying with the CBAM reporting regulations
Consequences of Non-Compliance with CBAM Reporting Requirements
1. Financial Penalties:
- Fines: Companies that fail to submit CBAM reports or calculations may be subject to substantial fines. The exact amount can vary depending on the severity and duration of the non-compliance but typically involves significant financial penalties designed to deter non-compliance.
- Daily Penalties: In some jurisdictions, there may be additional daily penalties for each day the required documentation is not submitted after the deadline.
2. Trade Restrictions:
- Suspension of Imports: Non-compliance can lead to suspending the importation of goods subject to CBAM until the necessary reports and calculations are provided.
- Increased Scrutiny: Future imports from the non-compliant company may be subjected to increased scrutiny and inspections, potentially delaying the customs clearance process.
3. Legal Consequences:
- Legal Actions: Persistent non-compliance may result in legal actions against the company, including litigation and enforcement actions by regulatory authorities.
- Compliance Orders: Authorities may issue compliance orders mandating the submission of CBAM reports and calculations within a specified timeframe.
4. Reputational Damage:
- Public Disclosure: Non-compliance incidents may be publicly disclosed, harming the company’s reputation and its relationships with customers, suppliers, and stakeholders.
- Loss of Market Access: Reputational damage can lead to loss of market access in regions where CBAM compliance is mandatory, affecting the company’s competitive position.
5. Operational Disruptions:
- Operational Delays: Non-compliance can cause operational delays due to the time required to resolve the compliance issues and submit the necessary documentation.
- Increased Compliance Costs: Companies may face increased compliance costs in the future as they may need to implement more stringent measures to ensure adherence to CBAM regulations.