HS Code 23069001: Oilcake and other solid residues, resulting from the extraction of vegetable fats or oils, nesi
Oilcake and other solid residues, resulting from the extraction of vegetable fats or oils, nesi fall under the HS Code 23069001. This code is used to classify and identify these specific products for international trade purposes. Understanding the HS code system is essential for importers and exporters as it helps facilitate accurate and efficient customs clearance procedures.
The HS code system, also known as the Harmonized System, is an international standard for classifying and categorizing goods. It is used by customs authorities worldwide to determine applicable tariffs, trade statistics, and regulatory requirements. The HS code consists of six digits, with additional digits for more specific product descriptions.
HS Code 23069001 specifically applies to oilcake and other solid residues that are derived from the extraction of vegetable fats or oils. These residues are typically used as animal feed or in the production of various industrial products. The code helps customs authorities identify and classify these products accurately, ensuring proper import/export documentation and duties.
When importing or exporting goods, it is crucial to be aware of the applicable duty rates. For HS Code 23069001, the bound/MFN (Most Favored Nation) duty rate is 0.32 cents/kg. This rate applies every time a country lowers a trade barrier or opens up a market, and it must be applied to the same goods or services from all trading partners.
The quantity unit for HS Code 23069001 is kilograms (KG). This unit of measurement is used to determine the weight of the oilcake and solid residues being imported or exported. It is essential to accurately declare the quantity to ensure compliance with customs regulations and to calculate the appropriate duties and taxes.
Furthermore, there are special tariff preference programs available for imports under HS Code 23069001. These programs provide preferential treatment, including duty-free access, to certain countries. The following countries are eligible for special tariff preferences for this HS code:
- Australia (Special Rate)
- Bahrain (Special Rate)
- Canada (NAFTA - duty-free treatment)
- Chile (Special Rate)
- Caribbean Basin Initiative (CBI)
- Israel (Special Rate - duty-free treatment)
- Andean Trade Preference Act (ATPA)
- Jordan (Special Rate)
- Morocco (Special Rate)
- Mexico (NAFTA - duty-free treatment)
- Oman (Special Rate)
- Dominican Republic-Central American (DR-CAFTA) (Special Rate)
- Peru (Special Rate)
- Singapore (Special Rate)
Importing and exporting goods under these special tariff preference programs can provide cost-saving advantages and enhance trade relationships between countries. Importers and exporters should familiarize themselves with the specific requirements and regulations associated with each program to take full advantage of the benefits.
HS Code 23069001 relates to oilcake and other solid residues resulting from the extraction of vegetable fats or oils. This code is used to classify and identify these products in international trade. Understanding the HS code system, duty rates, quantity units, and special tariff preference programs is crucial for importers and exporters to ensure compliance, facilitate customs clearance, and take advantage of available benefits and opportunities.
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