Amended imports and exports classification list to take effect in 2027
The Customs and Excise Department today (November 13) reminded importers and exporters that import or export declarations for shipments on or after January 1, 2027, must be completed in accordance with the amendments made to the Hong Kong Imports and Exports Classification List (Harmonized System).
The amendments, published in the Gazette today, will take effect from January 1, 2027.
The amendments involve eight commodity items, namely chemical products and textile articles.
These amendments will bring the classifications more in line with the latest circumstances through the adoption of more appropriate commodity sub-classifications and descriptions.
Importers and exporters can obtain the amended list in the following ways:
(1) by downloading the list from the website of the Census and Statistics Department (C&SD) at www.censtatd.gov.hk/en/page_1364.html; or
(2) by calling the Import/Export Declaration and Cargo Manifest Enquiry Hotline of the C&SD at 2877 1818.
For enquiries about trade classifications, please contact the Trade Classification Section of the C&SD (e-mail:trade-declaration@censtatd.gov.hk).
Photo source: reference image
Mandatory Provident Fund Schemes (Amendment) Bill 2026 gazetted
The Government published in the Gazette today (November 13) the Mandatory Provident Fund Schemes (Amendment) Bill 2026 (the Bill) to enhance the recovery process for default Mandatory Provident Fund (MPF) contributions and the MPF regulatory regime.
To strengthen the deterrent effect on employers against default contributions and drive them to settle outstanding contributions as early as possible, the Bill proposes introducing a two-tier surcharge mechanism under which, on top of the existing 5 per cent surcharge (first-tier), a second-tier surcharge at a flat rate of 10 per cent will be imposed on the total amount in arrears if the employer has not paid in full the contribution and/or the existing first-tier surcharge in arrears before the 120th day after the contribution day. In addition, the Mandatory Provident Fund Schemes Authority (MPFA) may issue a written notice to require an employer to providethe relevant employee'sincome information within a specified period (not less than 14 days). Non-compliant employers will be liable to a fixed penalty.
Meanwhile, to strengthen the accountability of MPF trustees, the Bill proposes empowering the MPFA to make a sanctioning order against non-compliant trustees, comprising a pecuniary penalty (up to $10 million or three times the amount of the profit gained or loss avoided as a result of the non-compliance, whichever is the greater), a public reprimand, or a combination of both. There will be express provisions in the Bill to prohibit trustees from charging any pecuniary penalty to the MPF schemes, constituent funds of the schemes, or scheme members under their administration. In pursuit of greater transparency and a stronger deterrent effect against non-compliance by trustees, it is further proposed to empower the MPFA to disclose its enforcement actions to the public and include relevant information in an open register for public inspection. The Bill also proposes that the MPFA may take disciplinary action against an MPF intermediary who acts improperly when conducting an MPF-related activity, whether or not it involves regulated activities. This will provide greater deterrence against improper acts by MPF intermediaries in MPF-related activities, thereby raising the industry standard and strengthening member protection. Moreover, the Bill proposes a basket of measures to provide greater flexibility in MPF investment management and better risk management.
A spokesperson for the Financial Services and the Treasury Bureau said, "The legislative proposals to enhance the default contribution recovery process do not only improve the efficiency of the MPFA in recovering the arrears, but also protect the working population's retirement savings. In formulating the relevant legislative proposal, we have suitably taken into account the views of various stakeholders, including labour unions, employers' organisations, and human resources management organisations. Most employers who make contributions on time are law-abiding and will not be affected by the proposal. On enhancing the regulatory regime, the MPFA will formulate guidelines and step up elaboration to assist trustees and intermediaries in understanding details of the proposed measures."
The Bill will be introduced into the Legislative Council for the First Reading on November 25.
The Mandatory Provident Fund Schemes Authority. Photo source: reference image
