With the new year coming even closer, major changes to the Harmonized System are just around the corner. The seventh edition of the Harmonized System (HS) will enter into force on 1 January 2022. HS 2022 includes 351 sets of accepted amendments, covering a range of goods across different industries. The HS serves as the basis for standardized Customs tariffs and uniform product classification worldwide.
Major changes of the HS usually take place every four to six years. The WCO makes these adjustments periodically to adapt the HS Nomenclature to technical developments, changes in trade regulations or environmental and social issues. The changes of the HS Nomenclature relate mainly to the agricultural sector, chemicals, machinery, wood, metals, transport, and textiles.
For international operating businesses it is important to keep an eye on these major amendments and to take the next steps. MIC is providing the tool needed to effectively manage the HS 2022 Reform and thus enabling you a smooth transition to the new HS Nomenclature.
Classification has never been easier - MIC’s Central Classification System (CCS) helps businesses engaging in cross-border trade to classify products to conform to multi-national customs tariff schedules. With our software tool, you will be able to benefit from an increased automation level when it comes to the determination, validation, assignment and re-assignment (e.g. due to global changes in tariffs like the 2022 HS Reform) of the classification. This enables you to spend less time with unnecessary tasks and ensures easy control of the entire product classification process on a global level. Avoid double effort, inconsistency and reduce costs with MIC’s classification software.
Retrieve more information about the upcoming HS 2022 changes from the WCO website:
- HS Nomenclature 2022 Edition:
http://www.wcoomd.org/en/topics/nomenclature/instrument-and-tools/hs-nomenclature-2022-edition.aspx
- Amendments to the Nomenclature:
About MIC:
MIC is the world leader in providing global customs and trade compliance software solutions. The MIC group currently employs 400+ professionals around the world. More than 800 international customers rely on MIC software products for their global customs and trade compliance management solutions.
For more information about MIC and how we could help your operations, please contact us via [email protected].