Business, Freight News, IT, Logistics

Hurricane warning: Get ready for new Harmonised System

[ December 1, 2021   //   Chris ]

Parcel shipments could be delayed at customs if traders and their logistics partners are not prepared for the arrival of Harmonised System 2022, according to cross-border data specialist, Hurricane Commerce.

On 1 January 2022, the World Customs Organisation (WCO) will implement the 7^th edition of its Harmonised System (HS), bringing sweeping changes in HS codes for many products. It introduces over 370 new HS codes and more than 100 deletions, covering a wide range of goods across industries. Among the items affected are e-cigarettes and other vaping products, cameras, drones, lighting and antiques.

Hurricane Commerce’s chief content and compliance officer, Martin Palmer (pictured), said: “This is the first HS update since 2017 so is a significant moment for anyone involved in cross-border eCommerce. For many retailers and shippers, the data requirements will change in areas including HS codes and duty and VAT rates, as well as having implications for prohibited and restricted goods screening.

“One of the biggest impacts will be around the accuracy of the landed cost of a product – the total amount of sale, transport and delivery to the end customer.”

Tags: Hurricane Commerce