Commodity Code Classification.
What are Commodity COdes?
Classifying your goods can be a complex process that moves through a number of steps. As the importer or exporter you're legally responsible for the correct Commodity Code being applied to your goods, even if you employ an agent to do this for you.
Commodity Codes vary according to their purpose. The ten digits of a full code are used for Taric imports (named after the classification system used across the EU), although for imports from within the EU you only need an eight digit classification code. An eight digit code is needed to make an export declaration and Intrastat declarations.
What Is Commodity Code Classification?
Proper classification of products can deliver real benefits to companies. If your components can be classified correctly at a lower, or zero duty rate, a company will not only reap the benefits of the reduced rate, but may also be eligible to retrospectively claim a refund against previous imports.
Similarly identification of components incorrectly classified at a lower duty rate than legally due, can also be rectified without imposition of fines and penalties against the importer. This saves unnecessary cost and possible damage to a company's reputation.
The acquiring of a BTI (Binding Tariff Information) also gives your product classification a legal standing recognised across the European Union. This gives you an increased level of security and protects you against agents using incorrect commodity codes and costing you money in overpaid duties.
Commodity Code Classification - Our Process.
01 Professional Representation
02 Cost Effective Service
03 Cost Effective Service
04 Solutions Tailored to your Companies / Products requirements
05 Cross Industry Experience