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The Harmonized Tariff Schedule classifies a good based on its name, use, and/or the material used in its construction and assigns it a ten-digit classification code number, and there are over 17,000 unique classification code numbers.
The process of assigning HS codes is known as "HS Classification". All products can be classified in the HS by using the General Rules for the Interpretation of the Harmonized System ("GRI") that must be applied in strict order. HS codes can be determined by a variety of factors including a product's composition, its form and its function.
Rates of tax on transaction values vary by country of origin. Goods must be individually labeled to indicate country of origin, with exceptions for specific types of goods. Rules of origin are used to determine the country of origin. Goods are considered to originate in the country with the highest rate of duties for the particular goods unless ...
Tax harmonization is generally understood as a process of adjusting tax systems of different jurisdictions in the pursuit of a common policy objective. Tax harmonization involves the removal of tax distortions affecting commodity and factor movements in order to bring about a more efficient allocation of resources within an integrated market.
The General Rules for the Interpretation of the Harmonized System ("GRI") are the rules that govern the classification of goods under the Harmonized Commodity Description and Coding System (HS). Application
786 Ecuador: 789–790 Brazil: 800–839 Italy, San Marino and Vatican City: 840–849 Spain and Andorra: 850 Cuba: 858 Slovakia: 859 Czech Republic (barcode inherited from Czechoslovakia) 860 Serbia (barcode inherited from Yugoslavia and Serbia and Montenegro) 865 Mongolia: 867 North Korea: 868–869 Turkey: 870–879 Netherlands: 880–881
Classification and restrictions, to some extent, has a bad effect on free trading and growing of business. Risk of loss caused by difference in classification — Firstly, the proper classification of your item is essential to determine any licensing requirements under the Export Administration Regulations (EAR), EU Dual Use Regulation 428/2009.
This page was last edited on 21 December 2012, at 01:25 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.