Trade between the European Union and the United Kingdom is characterized by the predominance of export to the UK. Nevertheless, the interest in imports only rose from 2018. However, there was a drop in 2019, and the value of imports was about 294 billion pounds. The main reason behind it was Brexit and the related …
Commodities in circulation are identified across different systems. A tariff nomenclature provides codes for products that have to be classified for import or export purposes. The importer must pay all duties arising from the import process. What is the customs code in the tariff nomenclature? What is the customs code? The customs code is a …
When importing into the USA, understating the US’ customs clearance procedure is a must. Customs clearance in the USA is overseen by the United States Customs and Border Protection (CBP), its primary border control organization. It is required to present the CBP with multiple documents and to pay due duties. Is a Customs Broker needed? …
The import of goods is closely tied with carrying out customs clearance formalities. If you import goods from a non-European Union country, like Vietnam or China, to an EU Member State, you are an importer by EU’s regulations. You are not an importer if you move goods from one EU country to another. One of …
Since 2018, when the Turkish lira plunged in value, import from Turkey became even more profitable. In 2018 US imports from Turkey reached 10.3bn USD. In 2019 alone the value of imports from Turkey to the EU amounted to 69.8bn EUR. Some of the most often imported products included transport equipment, textile articles, machinery, agricultural …
The United States of America is the world’s largest economy that offers good quality products. The import of goods means fulfilling a lot of formalities, in particular the payment of customs duties. You should get familiar with the applicable duty rates for a given product before starting the import procedure. How much are the tariffs …
The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. The nomenclature covers 5000 groups of goods. Knowledge of HS Code is useful when importing and exporting goods. Recently, the import of toys is very …