Harmonized Commodity Description and Coding System
Thursday, June 25, 2009 5:06
The Harmonized Commodity Description and Coding System of tariff nomenclature refers to an internationally standard criteria system of names and numbers to label and classify goods for trading. This multipurpose system is developed and maintained by the World Customs Organization, used by customs officials around the world to determine the duties, taxes and regulations that apply to different kinds of products.
Almost 200 countries, which means about 98% of world trade, rely on the HS for trade negotiations collecting international trade statistics, quota controls, rules of origin and for statistical and economic research and analysis. Along with the further development of global trading in the modern society, harmonized codes system develop dramaticly. Products are basicly assigned a six-digit identifying number. However, different countries may further expand the Harmonized System by adding additional digits. The data base of HS is expanding all the time.
To find an efficient and accurate hts code lookup system to help with hs tariff classifications becomes increasingly important for businesses in the trading sector, especially for the ones in the export import sector.
Are you looking to work at the national, international and global levels with a reliable internationally harmonized hazard communication system? Are you looking to learn more about HS? Great amount of helpful information could be found online. Check it out for more details.
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