Read how other companies benefit from working with KGH, learn from insightful articles and discover useful tools that can inspire your work with trade and customs management.
Major updates to HS codes 2022
We have summarised some key takeaways you need to know from the major 2022 updates to the HS codes. The Harmonized System (HS) is used worldwide for the uniform classification of goods traded internationally. HS 2022, which is the seventh edition, will be applied from 1 January 2022. The 2022 update is a global update, as opposed to the annual, local EU updates.
What is customs classification?
Every business involved in international trade needs to stay on top of its customs classification game to ensure compliance and optimise duties paid. Good knowledge and regular status checks of the Tariff/HS classification are requirements for importing /exporting companies. Businesses could be exposed to a number of risks if these processes are not in place.
The importance of controlling your customs clearance processes
During the last 1.5 years, companies have faced several challenges that have clearly demonstrated the need for a good overview of the supply chain in order to be able to act early and with force when circumstances change and the supply chain is strained. A good overview also includes control over the company's customs clearance management, including all parties involved, end-to-end. It is about costs, compliance but also supply chain resilience and gaining a competitive edge.