Commodity Code Classification
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.
Key Benefits
Further Information
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