The World Customs Organisation (WCO) has released the latest and seventh edition of the Harmonized System (HS) nomenclature which came into force on January 1, 2022. HS is used globally for the uniform classification of goods and serves as the basis for Customs tariffs and duty across the world. HS codes are also used for the compilation of international trade statistics (including Intrastat in the EU). If you are importer or exporter or involved in cross border transactions, then you will need to review and change your existing impacted HS codes or need to start using new HS codes after January 1, 2022.
Source Avalara
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