In August 2023, the European Union (EU) implemented the Carbon Border Adjustment Mechanism (CBAM), requiring EU importers to file quarterly emissions reports for imported goods, with an upcoming deadline on 30 April 2024.
CBAM aims to boost compliance while influencing supply chains, cost efficiency, and integration efforts, presenting opportunities for innovation in emissions tracking, supply chain optimization, and adapting to future carbon levies.
In light of this, our Tax experts hosted a webinar where they provided insight into the following topics:
- Current status of the CBAM legislation
- Transitional period and operational inefficiencies faced by companies
- How to anticipate on the go-live period as of 2024
- Deloitte’s CBAM Compliance Manager: Automated solution for EU importers and non-EU exporters
Speaker
Fernand Rutten
Fernand is the Middle East Tax COO, delivering impact how and where it matters most for our Tax clients, talent, and community in the region. Fernand is also the Middle East Customs and Global Trade Advisory Leader and is based in the United Arab Emirates (UAE). Fernand has more than 30 years of experience in indirect tax, with a strong focus on Customs, excise taxes and global trade matters. In 2010, Fernand became the Global Leader for Global Trade Advisory at Deloitte, working with a group of over 800 subject matter experts around the globe serving clients in both the public and private sectors on customs and global trade matters. He regularly advises on projects relating to business model optimization, automation (customs and excise solutions), compliance, export controls, excise, litigation, valuation, origin, customs classification, data analytics and trade automation/technology. Before becoming a consultant, Fernand worked as a Customs Official with the Dutch Customs Authorities. He assisted several clients in a variety of cases including leading a PAN-European project on e-Customs and Authorized Economic Operator (AEO), excises and international trade matters and indirect tax IT solutions.
Reshma C Sharma
Reshma is a Director with over 15 years of Indirect Tax and Global Trade Advisory experience and is currently based in Deloitte UAE. Her clients include global organizations in the oil and gas, commodity trading sector, infrastructure, automobiles, and major financial institutions. Reshma’s current focus in customs led tax transformation project. She has been in Middle East for more than 3 years and advises major national oil companies and GCC headquartered global businesses on global trade advisory matters. She specializes in Customs and Global Trade Advisory and, has extensive experience in VAT and excise/energy taxes. Reshma has also worked with ‘bulge bracket’ investment banking institutions as the lead indirect tax adviser for their energy and commodities and investment banking business. She has advised on international trading supply chains and managed the processes and controls in relation to customs and excise risks. She has led international projects covering customs and global trade issues in various jurisdictions and has advised on complex global indirect tax and customs risk reviews. Reshma is a CTA from the Chartered Institute of Taxation in the UK and also holds a Master’s degree in the area of International Economics from the London School of Economics and Political Science, University of London.
