WCO 2012 HS Changes: Is Your Company Prepared?
During our recent webinar with Cisco Systems, "WCO 2012 HS Changes: Is Your Company Prepared?", experts in global trade content discussed the upcoming changes to the Harmonized System (HS) by the World Customs Organization (WCO) and the impact they may have on your company's global trade processes and international supply chain. We compiled all of the questions asked during the webinar along with their responses. Here are a few:
Q: Has the WCO published more recent amendment information and correlation tables since 2010?
A: All information on the amendments are published on the WCO's web site: http://www.wcoomd.org/home_hsoverviewboxes.htm
This link contains the latest correlation tables, as well as the amendments. The new 2012 HS itself and the explanatory notes will be published sometime in June. It can be ordered from the WCO bookstore: http://publications.wcoomd.org/index.php?language=en
Q: Any idea when the US will publish the new tariff? Any precursor info to help with US correlations?
A: We expect to see the first of the US updates in November of this year. Management Dynamics will provide a “Delta Report” for the US updates, which will show which HS numbers have been expired and which HS numbers are new.
Q: What is the earliest that we will be able to see the changes for Canada and Mexico published prior to the implementation?
A: Canada typically publishes its tariff several weeks before the implementation date. Typically, that is at the end of November or beginning of December. Mexico on the other hand publishes its new tariff on or close to the implementation date, typically at the beginning of January.
Q: Will these changes affect the Schedule B Classification?
A: The Schedule B is separate from the US HS; however, we expect to see the Schedule B impacted by these changes given that the changes are at the heading and sub-heading level.
Q: How would you suggest handling HTS coding as it applies to France since I noticed they were not listed. We have about 10 French OEMs.
A: Since France is a member of the WCO, the French HTS will also be affected by the 2012 WCO changes. The EU Commission publishes a partial tariff (i.e. it publishes the tariff containing the first 8 digits) at the end of October. This tariff will be published in the official journal, which is accessible online. The EU Commission also publishes correlation tables, typically in December.
To view all the questions and answers, please click here.
