- What is HS code ?
HS code stands for Harmonized Commodity Description and Coding System. It is an internationally standardized system of names and numbers and its aim is to classify traded products.
Wherever you are or wherever you want to send your product, the HS code will help you make sure that you are talking about the same product with your contacts (supplier, client etc.). It will also, and most importantly, help you define what is the custom duty of your product, to the final destination.
HS Code is a universal trading language for products and is an indispensable instrument for both product coding and international trade.
HS Code can be defined as the “identification number” of all products in customs procedures. The system is used by more than 200 countries and economies as a basis for the collection of international trade statistics.
- How to find your HS code and the custom duty ?
General : http://www.hscode.org/
USA : http://hts.usitc.gov/
Canada:http://www.canadapost.ca/cpotools/apps/wtz/business/findHsCode?execution=e1s1
Europe : http://ec.europa.eu/taxation_customs/dds2/taric/taric_consultation.jsp?Lang=fr
- Why is HS code so important ?
HS code is the passport of your product, it’s DNA. It will define in which category your product is for quality control (what certificates you need) but also the custom fees.
Don’t hesitate to double confirm with the country where you product are heading to; sometimes a slight change in number can have an impact on the custom fees and your product can get stopped at the borders.
Your aim is to get your product available on the market without any delay, defining the good HS code is one of the steps toward that goal!
To define the best incoterm & know who pays what between the buyer & the seller, it’s here.
Stay tuned folks!
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