Monday, November 7, 2011

2012 Harmonized Tariff Changes

Are you prepared? The fifth set of amendments to the Harmonized System will go into effect January 2012.

According to information on the WCO website, HS 2012 includes 220 sets of amendments, spread out among the following categories.

Agriculture98
Chemicals27
Paper9
Textiles14
Base Metal5
Machinery30
Miscellaneous37

Tables showing the correlation between the 2007 and 2012 are available on the WCO website.

Table I establishes the correlation between the 2012 version and the 2007 version of the HS. It contains remarks opposite certain correlations briefly specifying the nature of the goods transferred. In many cases, reference has also been made to the amended legal provisions. Some subheadings were deleted due to low trade volumes; however, new subheadings were created to accommodate increased trade in those goods.

Table II establishes the correlation starting from the 2007 version to the 2012 version of the HS. Since this table transposes the information found in Table I, the remarks found in Table I were not included. Table II contains the 2007 HS code number in the left-hand column, with the corresponding 2012 HS code in the right-hand column. The prefix “ex” is used in the same way as it has been used in Table I, i.e., to indicate that only a part of the subheading concerned is covered by the code number referred to in the left-hand column.

Implementation of the 2012 HTS is less than two months away. If you have already prepared for the change, then you can enjoy the holidays! If you haven’t reviewed the changes in relation to your import program, then it’s time to get started. If your company imports agricultural goods, chemicals or machinery, the changes may require a lot more work on your part, so don’t delay. If you need help, contact your customs broker or other trade compliance professional.

Stay tuned, the next round of changes will be coming in 2017!


Sources

World Customs Organization. (2011, February). New HS rules from 1 January 2012. WCO News. 64, 10.

World Customs Organization. (n.d.). Harmonized System Correlation Tables. Retrieved from http://www.wcoomd.org/files/1.%20Public%20files/PDFandDocuments/HarmonizedSystem/tools_instruments/HS_Correlation_Tables_Introduction.pdf

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