Understanding HS Codes: How Wrong Classification Costs Millions скачать в хорошем качестве

Understanding HS Codes: How Wrong Classification Costs Millions

Wrong HS code can cost importers millions in extra customs duty, VAT, penalties, and storage fees. In this video, you will learn how to correctly classify goods using the Customs Tariff Book and avoid costly reclassification mistakes. Many importers trust supplier HS codes or copy classifications from Google. That is exactly how shipments get stopped at port, duty jumps from 10% to 30%, and profit disappears overnight. In this practical training, we cover: What HS codes really mean in customs Why customs reclassifies imported goods How incorrect classification increases import duty and VAT Step-by-step method to verify HS codes before shipment Real Chapter 84 example: classifying a centrifugal water pump (HS 8413.70) How HS codes affect LC approval, forex release, and clearance timelines By the end of this video, you will understand how to: Identify the correct HS chapter Select the right 4-digit heading Confirm the proper 6-digit subheading Check Ethiopian duty rates and tax implications Protect your business from penalties and unexpected costs If you import machinery, equipment, spare parts, or industrial goods , understanding HS code classification is essential for cost control and compliance.