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The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products.
- General Rules for The Interpretation of The Harmonized System
"What Every Member of the Trade Community Should Know...
- Tariff
A tariff is a tax imposed by the government of a country or...
- TARIC code
The TARIC code (TARif Intégré Communautaire; Integrated...
- General Rules for The Interpretation of The Harmonized System
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. [1]
The TARIC code (TARif Intégré Communautaire; Integrated Tariff of the European Communities) is designed to show the various rules applying to specific products when imported into the EU.
TARIC, the integrated Tariff of the European Union, is a multilingual database integrating all measures relating to EU customs tariff, commercial and agricultural legislation. ACCESS THE DATABASE.
It comprises more than 5,000 commodity groups; each identified by a six digit code, arranged in a legal and logical structure and is supported by well-defined rules to achieve uniform classification. The system is used by more than 200 countries and economies as a basis for their Customs tariffs and for the collection of international trade ...
Determine import tariff (duty) rates and figure out if a product qualifies for a preferential tariff under a free trade agreement; Conduct market research and obtain trade statistics; Comply with U.S. law, where applicable.
HS or HTS codes are a global tool and used in most international import and export documentation and commercial invoices. The World Customs Organization (WCO) maintains the Harmonized Tariff Description and Coding Schedule (HTS). Over 170 countries participate in WCO’s HTS system.
