Tariffs - Tariffs HS codes(harmonized commodity description...

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Tariffs & HS codes (harmonized commodity description and coding system) HS code 1. Created by the World Customs Organization (WCO) 2. 170 member countries 3. 206 countries use HS codes 4. Member countries must base their tariff schedules on the HS codes 5. However, countries set their own individual tariff rates for each code Structure of HS schedule 1. A very thick book, containing 21 Sections, listing every conceivable general type of product 2. The 21 Sections, between them, contain: 3. 97 Chapters (some countries also have chapters 98 and 99) 4. Chapters are divided into Headings 5. Headings may be divided into Sub-headings (called ‘one-dash’ or ‘two-dash’ subheadings) Structure of HS code 1. Basic code has six digits, like this: 1234.56 2. First two digits (12) are the Chapter number 3. Next two digits (34) are the Heading within the Chapter 4. Next digit (5) is a one-dash subheading number, if not further divided 5. Last two digits (56) are a two-dash subheading HS code examples 1.
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