HS codes 2022 ASSESSMENT Get the overview you need in 48 hours!
What you’ll get:
Overview of the HS 2022 Impact
This delivery will provide you with the information you need to understand how the revised commodity (HS) codes affect you, allowing you to plan potential next steps.
Minimal internal affect
KGH will provide you with the necessary information without you having to identify and engage other resources and competencies.
Secured supply chain
By using the correct HS codes, you can ensure that your products arrive at their destination on time and in compliance.
What is HS 2022?
Commodity codes are used to calculate customs duties and other requirements associated with the import and export of goods. The Harmonized System (HS) is a set of commodity codes that are used globally to classify goods that are traded internationally. The seventh edition of the Harmonized System, HS 2022, will take effect on 1 January 2022. The new edition offers significant revisions to the Harmonized System, including 351 sets of amendments that cover a wide variety of commodities traveling across borders.
The HS codes are used to calculate trade tariffs and compile international trade statistics. According to the World Customs Organization (WCO), it is utilized by nearly 200 countries and economies and accounts for over 98% of all merchandise traded internationally.
The service you receive:
We will analyse your current master data and notify you of any changes that might need to be made. You will receive a detailed list of the products that will be impacted including suggestions for possible adjustments.
We can also assist you in taking additional steps to ensure you are properly prepared, so you can focus on the tasks already on your agenda.
List of impacted products
KGH will check the master data used for your HS codes classification and let you know if there are any impacted products. In such case, you receive a clear list of those products.
Clear insight of the outlined changes
For impacted products, we will provide alternatives that will help determine suitable codes to use after January 1, 2022. Equally important, the results will assist you in determining what to do and how much effort will be required.
We will respond with the results within 48 hours after receiving your data.
We help you determine the optimal commodity codes to use for your goods. A recommended next step after completing the HS 2022 assessment.
HS CODE REVIEWS
Are your commodity codes valid and correct? KGH conducts pre-studies and reviews to help you determine if you pay the optimal duties while ensuring compliance.
TRADE TARIFF MAINTENANCE
Tariffs are moving targets. Some of them are updated on a monthly basis. Let us maintain your master data!
Convert and match your commodity codes to other countries’ customs trade tariffs.
What is the HS 2022?
The HS 2022 is the seventh edition of the Harmonized System (HS) and will be applied from 1 January 2022. The new HS 2022 edition offers significant changes to the HS, including 351 sets of amendments that cover a wide variety of goods moving across borders.
What is HS Nomenclature?
The HS is a set of commodity codes that are used globally to classify commodities that are traded internationally. The HS is managed by the World Customs Organization (WCO). The HS serves as the basis for trade tariffs and for the compilation of international trade statistics. It is used by over 200 countries and economies according to the WCO and covers over 98% of all merchandise in international trade.
Are the changes in HS 2022 relevant to all businesses?
Unlikely, but HS 2022 covers a broad range of products in a variety of sectors. As a result, it is essential to conduct an assessment of your master data.
What happens if I fail to update the affected goods?
Correct classification is the responsibility of the importer of record. In an audit, it is essential to be able to show in detail how the trade tariffs have been determined. If your goods are incorrectly classified, you run the risks of facing penalties and fines, as well as disturbances in the flows of goods.
Trade and Customs expertise
KGH works with both private companies and government authorities. This gives a unique perspective that helps our customers optimize their customs tariff management.
By serving large and medium-sized companies in a wide range of industries across Europe, we have built an extensive experience in managing all sorts of trade tariff matters.
A vast service portfolio
Utilize the benefits of a provider that covers most of your Customs needs, from strategic support to efficient day-to-day operations.
KGH is present all over Europe. We have over 1,200 people dedicated to Customs who are ready to assist you.