Harmonized System (HS) Codes

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Crucial Elements of International Shipping Regulations
Below are the important elements of International shipping regulations you need to know-

1. Customs Documentation
It is an official document that lists and provides information about the goods that are being shipped. It is a fundamental requirement for international shipping.

Customs clearance should be as efficient as possible to ensure legal and ethical transactions. It’s vital to complete all the required documentation correctly, as failure to do so can have a negative impact on both you and the customs clearance process.

2.
It is a standardised numerical method of classifying traded products. These ghana phone number list classification codes are used worldwide. Over 200 countries and economies use these codes to identify goods when determining their customs tariffs or other fees and penalties.

Assigning the right HS code is important as it makes it easy for the customs department to apply the right import duties and taxes.

These codes make it easy to make a distinction between goods categories. The HS codes are usually reviewed every five years to include the new technologies, patterns and trends, and new goods that enter the global market and are traded in huge volumes.