UK Seeks Feedback on Draft Carbon Border Tax Regulations

The UK on Tuesday released draft regulations to implement its carbon border tax on industrial goods, due to begin in 2027.

The draft rules for the UK’s carbon border adjustment mechanism, or CBAM, set out details on registration requirements, reimbursements, tax returns and record-keeping, among others, according to documents released by His Majesty’s Revenue and Customs.

The UK’s CBAM—a carbon price on imported industrial goods with high greenhouse gas emissions from countries with lower or no carbon price—will apply to businesses that import at least £50,000 ($68,290) worth of goods in a year from the aluminum, cement, fertilizer, ...