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THE IMPORTANCE OF KNOWING THE CORRECT TARIFF CLASSIFICATION OF PRODUCTS

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THE IMPORTANCE OF KNOWING THE CORRECT TARIFF CLASSIFICATION OF PRODUCTS. Understanding Tariff Classification All traded goods that enter a country must be categorized according to the Harmonized System The act of placing goods in the correct category is called classification .

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Presentation Transcript
slide1

THE IMPORTANCE OF

KNOWING THE CORRECT

TARIFF CLASSIFICATION

OF PRODUCTS

slide2

Understanding Tariff Classification

  • All traded goods that enter a country must be categorized according to the Harmonized System
  • The act of placing goods in the correct category is called classification.
  • Classification determines how much duty will be collected.
slide3

Harmonized System

  • an international multipurpose product
  • nomenclature developed by the
  • World Customs Organization (WCO)
  • To achieve international uniformity in the classification of goods
  • To provide an updated nomenclature to take account of technological developments and changes in international trade patterns
slide4

Harmonized System

Section II Vegetable Products

Chapter 8 Edible fruits and nuts; peel of citrus fruit or melons

Heading 08.03 Bananas, including plantains, fresh or dried

0803.10 - Plantains

0801.90 - Other

slide5

ASEAN Harmonized Tariff Nomenclature

  • An 8-digit commodity nomenclature based
  • on the HS
  • It involves an alignment of national tariff
  • requirements of each ASEAN member
  • country
  • Started in 2004
  • The NEDA Board approved the adoption of AHTN 2012 on 18 Sept 2012
slide6

ASEAN Harmonized Tariff Nomenclature

Section II Vegetable Products

Chapter 8 Edible fruits and nuts; peel of citrus fruit or melons

Heading 08.03 Bananas, including plantains, fresh or dried

0803.10.00 - Plantains

0801.90.00 - Other

slide7

Tariff and Customs Code of the Philippines

  • The HS- and AHTN-based Philippine tariff
  • nomenclature which determines the tariff
  • classification and the corresponding rates of
  • duty is contained under Sec 104 of the TCCP.
  • The TCCP is being administered and
  • maintained by the Tariff Commission under
  • Executive Order No. 688 which empowers
  • the Tariff Commission to amend the
  • nomenclature but not the tariff rates.
slide9

FREE TRADE AGREEMENT

  • a legally binding agreement between
  • 2 or more countries to reduce or
  • eliminate barriers to trade, and facilitate
  • the cross border movement of goods,
  • services and investments between the
  • territories of the Parties
slide10

Benefit of FTAs to businesses

Trade in Goods (TIG): Tariff concessions for

eligible exports

  • FTAs do not award tariff benefits to all goods.
  • To qualify for preferential tariffs, goods must be (Philippine) originating.

Rules of Origin

An objective set of criteria set up to determine a product’s originating status.

slide15

How can you avail of these incentives?

  • Know the correct AHTN heading of your product.
  • 2. Verify if the product is offered under FTAs.
  • 3. Compare the tariff rates under MFN and FTA.
  • 4. Check the “Product Specific Rules or PSR”.
slide16

TARIFF CLASSIFICATION RULINGS

  • Section 1313a of the Tariff and Customs Code
    • TC Form 1 (Imports)
    • TC Form 2 (Exports)
  • Forms downloadable at TC Website
    • Submit accomplished form, together with samples, technical brochures (description, function, composition, etc.)
  • Filing Fee (P300.00 per article)
slide17

Advance Ruling issued

Accomplished TC Form 1

slide18

TARIFF COMMISSION

5th Floor Philippine Heart Center,

East Avenue, Diliman, Quezon City

Tel. (+632) 926-8731

Fax (+632) 921-7960

Website: www.tariffcommission.gov.ph

Email/s: info@tariffcommission.gov.ph