Upadating the Mexican HTS by implementing the commercial identification number (NICO): The ten digits code.

On November 17, 2020, the Ministry of Economy announced in the Federal Official Gazette the implementation of the commercial identification number updating the Mexican Harmonized Tariff Schedule -HTS-, in accordance with the sixth amendment to the Harmonized Commodity Description and Coding System of the World Customs Organization.

 

For practical purposes, the classification of goods under the new Mexican HTS will now be created by using a ten digits code and it is intended to facilitate statistical analysis, identification of regulations and reach full alignment with the systems of United States of America, Canada and China, among other countries.

 

It is important to note that the new Mexican HTS based on a ten digit coding system will be useful for the Mexican government to identify goods properly but also for many other purposes such as internal taxes, trade policies, monitoring of controlled or sensitive goods, rules of origin, tariffs, price monitoring, quota controls, etc.  This updating is in full force as of November 18, 2020.

 

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