Why we should know the tariff heading of our products
10/23/19
All goods exported are classified by a codeshare by most countries. This common system allows all customs offices in the world to easily classify goods and to compare foreign trade flows between countries.
This code is composed of 6 digits (commonly known as a tariff heading or code) from which all products are classified into large groups. This means that all countries that share this system classify goods in the same way.
From these 6 digits each country can add additional digits for tariff setting or statistical purposes. These additional digits are therefore country-specific. In the case of the European Union 4 more digits are added which correspond to the common tariff called TARIC.
Why do we need to know our tariff heading?
Exporters need to know the tariff heading of their products for several reasons:
- As exporters we are legally responsible for correctly classifying our products before customs.
- Imported products are generally taxed (tariff) determined on the basis of the tariff heading. Although it is the importer who pays this tax the exporter must take it into account when calculating the final price of his products in the country of destination.
- Knowing our departure we can obtain valuable information about foreign trade: which are the main importing countries the evolution of exports to which countries Spain exports...
- Some customs business associations and export promotion agencies have directories of domestic importers and exporters which are available free of charge with the tariff heading. This can be a very useful source of information for detecting potential partners or customers.
News published in http://www.amec.es/por-que-debemos-conocer-la-partida-arancelaria-de-nuestros-productos/
