HS CODE, 'PASSPORT' OF GOODS WHEN ENTERING EUROPE
When importing from Vietnam or China to Europe, Customs cannot open each individual package for manual inspection. Instead, they manage based on an international number series, called the HS Code
Simply put: The HS Code is like a "passport" for identifying goods.
This series of numbers helps European customs authorities quickly determine two things:
What type of goods are they? (Clothing, machinery, or food...)
What is the tax rate?
1. Why is this series of numbers important to your budget?
Correctly identifying the HS code from the start will help businesses avoid unnecessary problems and costs:
Optimizing import tax: A single item can sometimes be subject to 2-3 different codes. Without experience, you might mistakenly choose a code with a high tax rate (e.g., 15%), while in reality your goods could be subject to a lower tax rate (e.g., 5%).
Avoiding storage fees: When the code on the documents and the actual goods don't match, customs will require the goods to be held for inspection. This waiting time will incur daily demurrage/demurrage (DEM/DET) costs, and more importantly, slow down your business plans.
Maintaining business reputation: Accurate declarations keep your company's records "clean" in the Customs system, helping future shipments clear customs faster (Green Channel).
2. How does Lee & Partners support you?
Instead of letting customers conduct their own haphazard research, we work with you to find the best solution:
Accurate research: We base our advice on the actual nature of the product to recommend the most accurate HS code, ensuring compliance with European legal regulations. Taking advantage of preferential treatment (EVFTA): For goods from Vietnam, we pay special attention to finding HS codes that enjoy a 0% preferential tax rate under the Vietnam-EU Free Trade Agreement, helping you significantly save on input costs. Smooth customs clearance: Carefully prepared documentation, perfectly matched from the start to ensure goods pass through customs as quickly as possible.
IN SUMMARY: In import, accuracy leads to economic efficiency. Lee & Partners helps you handle these complex procedures, ensuring your goods arrive safely and at the most optimal cost.
Lee & Partners – Precision in every detail, Efficiency in every journey.
