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The Harmonized Commodity Description and Coding System (HS) of tariff nomenclature is an internationally standardized system of names and numbers for classifying traded products developed and maintained by the World Customs Organization (WCO) (formerly the Customs Co-operation Council), an independent intergovernmental organization with over 160 member countries based in Brussels, Belgium.
Additional recommended knowledge
The HS is a six-digit nomenclature. The first four digits are referred to as the heading. The first six digits are known as a subheading. Countries that have adopted the Harmonized System are not permitted to alter in any way the descriptions associated to a heading or a subheading nor can the numerical codes at the four or six digit level be altered. This is what keeps the Harmonized System harmonized.
Individual countries may extend a Harmonized System number to eight or ten digits for customs purposes, and to eight or ten digits for export purposes. Almost 200 countries, representing about 98% of world trade, use the HS as a basis for:
Codes have been revised through the years. So if it's necessary to reference a code related to a trade issue from even a few years ago, one has to make sure the definition set being used matches the code.
|This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Harmonized_System". A list of authors is available in Wikipedia.|