Basics in customs: commodity code, origin and duties, customs value

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Overview

Learn about the important role customs duties play in choosing the third country supplier (the country of origin of the goods) from which you purchase goods. Also learn how the commodity code and customs value are determined. This video is not just for procurement team! Sometimes all it takes is a little knowledge to save a lot of money.

This is the practical situation we discuss in this video training: Lukas is starting a new business. He wants to import bicycles into the European Union. After receiving offers from suppliers in three different countries, Lukas does not know which one to choose. His friend Anna, a customs broker, helps him decide. She also gives him a brief and clear overview of the three "cornerstones" of customs law, namely:

  • The definition of commodity codes (HS, CN, TARIC);
  • Customs duties and the origin of goods;
  • The customs value of goods as a basis for calculating duties.

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