The correct tariff/commodity code classification is more important now than ever, as individual countries want to show support for their own international policies on goods and the benefits they offer when allowing imports of certain product groups.
For example, we are now in the "age of recycling" and with the development of new technologies, resulting in environmentally friendly products, will in most cases, benefit from reduced import duties allocated to the tariff code that these products comply with.
Countries may also apply high import duties on goods that they don’t want importing, which may be due to the fact that they want to support local manufacturers and don’t want to encourage competition.
If you ship physical products then an understanding of the classification process is essential.
All you need is a simple process to ensure that you have:
It is a company procedure that can bring commercial benefits and not just the role of one person to classify all your product lines.
Organizations need to train key personnel to ensure that a systematic approach is taken to properly allocate tariff codes.
Just a thought….
Resultz Ltd provides the training to help all sizes of business understand the export documentation requirements and the commercial aspects of developing business overseas.
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