Customs 2024: All You Need to Know

2024 brings numerous customs and trade-related changes that are significant for companies operating internationally. From the new Combined Nomenclature to the revised Generalized System of Preferences (GSP) and the third phase of ICS2 – regulatory requirements are expanding.

In this article, we provide a concise overview of the key innovations that have been effective since the beginning of the year or will soon come into force – supplemented by further guidance and practical links.

Combined Nomenclature 2024 (CN 2024)

From January 1, 2024, the current Combined Nomenclature has come into force in the EU. Different language versions are available here: Link

New EU Generalized System of Preferences (GSP)

With Regulation (EU) No. 978/2012 of the European Parliament and of the Council, the Generalized Scheme of Preferences for developing countries, GSP, was revised as of January 1, 2014. Originally, the GSP scheme was to be effective from 2014 until December 31, 2023, thus for a period of 10 years. However, the duration has been extended by Regulation (EU) No. 2023/2663 until December 31, 2027. The special arrangement for the least developed countries even remains indefinitely.

Further information on the topic can be found here.

Import Control System 2 - Phase 3 (ICS2)

Phase 3 comes into effect on March 1, 2024. Economic operators, including carriers transporting goods by sea and inland waterways, roads, and railways, are required to complete the Entry Summary Declaration (ENS) dataset for all goods in these transport sectors. This obligation also extends to parcels and express consignments sent into the European Union.
To meet the requirements for submitting ENS data, operators must update and revise their IT systems and business processes where necessary. Adequate personnel training is also required.
Furthermore, mandated self-tests must be performed prior to commissioning.
Additional information for technical preparation for Phase 3 can be found in the available documentation here.

CBAM News

Since October 1, 2023, companies affected by the transition phase are required to fulfill reporting obligations. The initial CBAM report, covering the period from October to December 2023, must be submitted by January 31, 2024 at the latest.

EU-New Zealand Free Trade Agreement from 2024

After lengthy negotiations, the EU and New Zealand have signed a free trade agreement, which is set to come into effect in 2024. Through this agreement, tariffs of approximately 140 million euros can be saved in the first year. Furthermore, a projected trade growth of about 30 percent is expected.

For tariff-free trade under the free trade agreement, both manufacturing-specific aspects and proof of origin are required.

New General Tariff in Switzerland

From January 1, 2024, the customs tariff will be adjusted due to the abolition of industrial tariffs and the simplification of the Swiss customs tariff structure for industrial products.

Industrial products in Switzerland include all goods except agricultural products (including feedstuffs) and fishery products. The abolition of industrial tariffs thus includes all goods in Chapters 25–97 of the customs tariff except for certain products in Chapters 35 and 38 classified as agricultural products.

We have summarized the most important practical information in five points. More information can be found here.

New VAT Rates in Switzerland

From January 1, 2024, the VAT rates have been increased as follows:

Detailed information on the tax rate increase can be found here.

News on the Harmonized System (HS)

The 72nd session of the Harmonized System Committee concluded with an important decision - the extension of the HS review cycle to six years. The HS Committee strategically extended the review cycle by bringing forward the HS2028 edition to 2028. After adoption in June 2025, it will officially come into force on January 1, 2028.

Customs law and foreign trade regulations are subject to constant change – and 2024 is no exception. If you need support with implementation, system adjustments, or data management, we are here to assist you.

Contact: info@traide.ai