Harmonized System (HS) Codes Explained
Description
Among classification systems, Harmonized System (HS) codes are commonly used throughout the import and export process for the classification of goods.
The Harmonized System is a standardized numerical method of classifying traded products. It is used by countries around the world to identify and describe products for purposes such as applying import duties and taxes.
This comprehensive online course enables learners to accurately identify and apply commodity codes to streamline international trade operations. Gain a deep understanding of commodity classification systems – what the codes are and what they do.
It will clearly explain things such as what is the link between the HS Code, Commodity Code and Tariff Code. If you use these codes then you may have heard this different terminology, which can be confusing.
The course will explain what a commodity code is, how the code is made up and what areas of international trade the code has an impact on.
The course will also explain how other countries use the codes and how knowledge of the system can not only aid customs compliance but has a real impact on commercial development and overseas sales strategies.
The course will also cover the classification process, including what information is required, and support information to assist with what can be a complicated process.
Contents
- The Harmonised System (HS) and how it is used globally
- How the codes are made up
- Accurately classifying products under the appropriate Tariff
- The General Rules of Interpretation
- Strategies for dealing with complex classification challenges
- How tariff codes impact on the import cost of products
- Global landed cost analysis
- Sources of information
Who should enrol?
This course is essential to anyone involved in international sales and purchases including sales teams, purchasing teams, finance, import and export administrators and managers.
This course is essential training for people involved in Import and Export from the following departments:
- Export Sales – Landed cost analysis is essential for export pricing strategies
- Purchasing – The costs of importing products
- Accounts – The duties and taxes applied at import and how to account for these
- Production – To help with compliance preferential trade determined by the tariff codes
- Operations – All other additional codes to be aware of to reduce costs where applicable.
This online import export course is valuable for both newcomers wanting an introduction and overview of commodity codes, and experienced staff needing a refresher on current requirements. As commodity codes are so important and widely used in international trade, it is a “must do” course for everyone in either importing or exporting goods internationally.