New customs codes 2023: what you need to know

MyTower Blog

Every year, the European Union updates its customs tariffs. Customs traders and freight forwarders use HS (Harmonized System) codes to clear all goods crossing international borders. In the European Union, these codes are defined by the Customs Tariff, also known as the EU Combined Nomenclature.

 

The Combined Nomenclature has 8 to 12 digits used to define the customs tariffs applied within the European Union. Each year, these tariffs change in order to follow the reality of international trade. The new edition, which entered into force on January 1, 2023, presents several changes, as well as many new nomenclatures created.

 

  • Here are the chapters of the 2023 tariff most impacted:
  • Edible fruits; peels of citrus fruits or melons (chapter 8) as well as that of cereals (chapter 10)
  •  Mineral Products (chapter 25) and Ores, Slag and Ash (Chapter 26)
  • Inorganic Chemicals (Chapter 28)
  • Aluminum and Aluminum Products (chapter 76)
  • Nuclear Reactors, Boilers, Machinery, Apparatus and Mechanical Devices (Chapter 84)
  • Electrical Machinery, Apparatus and Equipment and Parts Thereof, Sound Recording or Reproducing Apparatus, Television Image and Sound Recording or Reproducing Apparatus, and Parts and Accessories Thereof (chapter 85)

 

Remain compliant with our GTM solutions

 

In order to secure the compliance of your international trade while minimizing the tax risks related to customs duties, it is important to have control over the quality of your customs classification. Thanks to its state-of-the-art technology, MyTower allows you to automate the legal monitoring of changes and the classification of your goods with its GTM Classification (Global Trade Management) tool.

 

In real time and on an intuitive dashboard, you classify your goods, compare the nomenclatures applied by the countries in which you trade, check changes and errors in one click, thus securing the compliance of your customs declarations. Our solutions interface with any ERP and can integrate any data source. In short, your classification process is controlled throughout your supply chain.

 

MyTower is a high-performance solution ensuring the reliability of your customs data while minimizing the time-consuming effort of manual customs classification. Reduce and control your customs risks thanks to our GTM tool which meets your needs at 360°.

 

To find out all about the new classifications, see the page HS codes in 2023: how to check EU Customs codes and tariffs


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