New version of Customs Nomenclature (TN VED EAEU) enters into force 1 January 2017

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The Eurasian Economic Union’s Combined Nomenclature of Foreign Economic Activity (TN VED EAEU) is based on the International Convention on Harmonized Commodity Description and Coding System. The World Customs Organization, as part of its work in administering the Convention, every five years updates the Harmonized System in accordance with the requirements of international trade, the appearance of new commodities, and the needs of customs services.

The sixth edition of the Harmonized System, which enters into force in 2017, contains more than 200 amendments with respect to commodities of the agricultural sector, the chemical and textile sectors, the wood sector, the machinery sector and base metal sector. The full list of amendments is published on the World Customs Organization website.

Participants in international business will find it useful to review the correlation tables, which establish the correlation between codes of the old and new editions. The issue is that when a TN VED code changes, the customs duty rate for the commodity can also sometimes change. In addition, if a preliminary classification decision (Binding Tariff Ruling) has been received for a commodity, it will be subject to revocation if changes are made to the TN VED with respect to the commodity in question. A new decision can be obtained by applying to the customs authority. The correlation tables are published on the Federal Customs Service website.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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