On 28 October 2016, the Combined Nomenclature applicable as of 1 January 2017 was published in the Official Journal of the European Union.
On 28 October, Regulation No. 2016/1821, amending Annex I to Council Regulation (EEC) No. 2658/87 on the tariff and statistical nomenclature and on the Common Customs Tariff, was published in the Official Journal of the European Union.
The following main categories of goods are affected by the introduction of new tariff codes:
These new tariff codes have to be used as of 1 January 2017 for customs operations, Intrastat statements and, eventually, operations with excisable products.
To avoid potential errors or irregularities regarding customs operations, Intrastat reporting, excisable products operations and the application of the reduced VAT rate, we recommend that companies verify the tariff codes used and update them accordingly in order to apply the correct tariff codes as of 1 January 2017.
For a deeper discussion of how this issue might affect your business, please contact: