Glossary search results for "H" (2)
List of terms in glossary:
An international nomenclature developed by the World Customs Organisation (arranged in six-digit codes), allowing all participating countries to classify traded goods on a common basis. Beyond the six-digit level, countries are free to introduce national distinctions for tariffs and many other purposes. Hence, up to the HS-6 digit level, all countries using the Harmonised System classify products in the same way.
Import duties are paid when the products enter the EU customs territory, while VAT is paid in the country where the product is sold. So, if the products arrive first in the Netherlands before reaching the final destination in France, import duties will be paid in the Netherlands, but VAT will be due in France.