Latest harmonised coding system now being used by SVG Customs and Excise Department

This country’s Customs and Excise Department has introduced the latest version of the Harmonised Commodity and Coding System- HS 2022, of the CARICOM Common External Tariff (CET).

Implementation of the new version by St Vincent and the Grenadines (SVG), on January 1, 2023 means that the classifications used and import duty rates applied will be brought into conformity with the determinations of the Council for Trade and Economic Development (COTED), the body responsible for promoting trade and economic development in Caribbean Community (CARICOM).

The Customs and Excise Department primarily uses the HS for classifying goods on a common basis to assess and collect duties and taxes. The HS is also used for the collection of international trade statistics, monitoring of restricted or prohibited goods and formulating new trade policies.

The HS was developed by the World Customs Organization (WCO). It was instituted in 1988 and since 2002, it has been updated every five years. HS 2022 entered into force on internationally on January 1, 2022 and marks the 7th amendment of the HS, the Customs and Excise Department explained in a release.

The HS is updated for reasons such as advancement in technology, changes in consumer habits, changes in international trade patterns and the development of new products.

In adapting the HS to current trade practices, certain products will be separately identified in either existing or new subheadings. Some examples include:

An expansion of fish and fishery products to further enhance the coverage of species and product forms which need to be monitored for food security purposes and for better management of resources.

An enhancement of the coverage of wood species in order to get a better picture of trade patterns, including endangered species.

Detailing the information for several categories of products that are used as anti-malarial commodities. Advances in technology are also reflected in the amendments such as hybrid,plug-in hybrid and all-electric vehicles.

Insertion of new CARICOM Notes for reference purposes and clarification of classification of commodities of interest to Member States.

As a consequence of the implementation of HS 2022, the following subsidiary legislations have been amended to reflect relevant changes: Customs Duties Act, Chapter 423 (Section 2 and Section 3B); Import and Export (Control) Regulations; Excise Tax Act, Chapter 430; and Value Added Tax Regulations.

Copies of these amendments can be obtained at the St. Vincent and the Grenadines Government Printery and at the Customs website http://asycudaw.svgcustoms.net.

The implementation of the HS 2022 was a collaborative effort of the Ministry of Finance; the Customs and Excise Department; the Ministry of Trade; and the Attorney General’s Chambers.