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29 Ιουλ 2024 · An HS code is a globally recognized classification of a traded product, via a system of names and numbers. Are HS codes the same worldwide? The first six digits of an HS code are standardized globally by the World Customs Organization.
The tariff number, also known as the HS code (Harmonised System), is a vital component of international trade. For businesses moving goods across borders, correctly classifying products is crucial. But what exactly is an HS code, how is it structured, and why is it so important?
27 Αυγ 2023 · In practice, an HS code is a six-digit number that corresponds to one of more than 5,000 commodity groups singled out in the HS. The first two digits in that code show the HS Chapter to which a specific product belongs, the third and the fourth digits indicate the heading within that Chapter, and the last two digits show the subheading within ...
Among classification systems, Harmonized System (HS) codes are commonly used throughout the import and export process for the classification of goods. The Harmonized System is a standardized numerical method of classifying traded products.
HS Convention. The International Convention on the Harmonized Commodity Description and Coding System (HS Convention) entered into force on 1 January 1988. The objectives of the HS Convention are (i) to facilitate international trade and the collection, comparison and analysis of statistics by harmonizing the description, classification and ...
The HS Nomenclature comprises about 5,000 commodity groups which are identified by a 6-digit code and arranged according to a legal and logical structure based on fixed rules. The Combined Nomenclature of the European Union (EU) integrates the HS Nomenclature and comprises additional 8-digit subdivisions and legal notes specifically created to ...
20 Οκτ 2023 · In this guide, we’ll explain what a Harmonized System of Nomenclature (HS) code is, its importance in commerce, and more. Understanding the Harmonized System (HS) is crucial to ensuring smooth and efficient international trade through accurate tariff classification and compliance. Key Takeaways.
