The HS Code 95061140 refers to skis and snow-skis, excluding cross-country skis. This code is used to classify and identify these specific types of sporting equipment in international trade. Understanding the HS code and its associated data is important for importers, exporters, and government authorities involved in trade regulations and policies.
Skis and snow-skis are popular equipment used for winter sports and recreational activities. They are designed to glide over snow surfaces, providing individuals with a means to navigate snowy terrains efficiently and enjoy winter sports such as skiing and snowboarding.
When it comes to international trade, the HS code plays a crucial role. It is a standardized system developed by the World Customs Organization (WCO) to classify and categorize goods traded across borders. Each HS code consists of a six-digit number, with additional digits for more specific classification.
The HS Code 95061140 specifically identifies skis and snow-skis. This code helps customs authorities and trade organizations accurately classify and track these goods, ensuring that appropriate duties, taxes, and regulations are applied during import and export processes.
One important aspect of the HS code is the bound/MFN duty rate. For HS Code 95061140, the bound/MFN duty rate is 2.6%. The bound duty rate refers to the maximum tariff rate that a country can impose on a specific product. The MFN (Most Favored Nation) duty rate is the tariff rate applied to all trading partners equally under the principle of non-discrimination.
In addition to the duty rate, there are special tariff preference programs available for skis and snow-skis under HS Code 95061140. These programs provide certain countries with preferential treatment, including duty-free access to the market. The following countries benefit from special tariff preferences for this HS code: Australia, Bahrain, Canada (under NAFTA), Chile, EFTA countries (European Free Trade Association), Israel, Jordan, Morocco, Mexico (under NAFTA), Oman, the Dominican Republic (under DR-CAFTA), Peru, and Singapore.
These special tariff preference programs aim to promote trade and economic cooperation between countries. By providing duty-free treatment, they encourage imports and exports, fostering growth in the ski and snow-ski industry.
Importing and exporting skis and snow-skis under HS Code 95061140 are subject to trade regulations and policies. Importing US states and exporting US states play a significant role in the trade of these goods. Various states within the US have different regulations and procedures for importing and exporting skis and snow-skis, including customs documentation, licensing requirements, and safety standards.
HS Code 95061140 refers to skis and snow-skis, excluding cross-country skis. This code is used to classify and identify these goods in international trade. Understanding the HS code, its associated data, and the special tariff preference programs is essential for importers, exporters, and government authorities involved in the ski and snow-ski industry.