When it comes to international trade, the Harmonized System (HS) codes play a vital role in classifying goods. One such HS code is 99140451, which corresponds to BH goods in subheading 2105.00.40 over note 7 TRQ. In this article, we will take a closer look at this HS code and explore its implications in international trade.
The HS code 99140451 specifically categorizes goods from Bahrain (BH) under subheading 2105.00.40. This subheading refers to products such as ice cream and other edible ice, whether or not containing cocoa. It falls under the broader category of food preparations, not elsewhere specified or included.
Importing and exporting countries often impose duties on goods to protect domestic industries or to generate revenue. The bound/MFN (Most Favored Nation) duty rate associated with HS code 99140451 ensures that a country cannot discriminate between its trading partners. In other words, every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners.
Unfortunately, the quantity unit for HS code 99140451 is not available (NA). This means that the specific unit in which the goods are measured is not specified. It could be kilograms, liters, or any other appropriate unit. However, it is important to note that the absence of a quantity unit does not affect the classification or application of the HS code.
In the context of tariff preference programs, HS code 99140451 is subject to a special rate for imports into Bahrain. The rate is 30.1 cents per kilogram, along with an additional 10.2% of the import value. This special rate is applicable to goods falling under this HS code when imported into Bahrain.
It is also worth mentioning that the HS code system is used by both importing and exporting countries to track and monitor trade flows. By assigning a unique HS code to each product, it becomes easier to collect and analyze trade statistics. This data is crucial for policymakers, economists, and businesses to understand market trends, monitor trade balances, and make informed decisions.
HS code 99140451 plays a significant role in classifying BH goods in subheading 2105.00.40 over note 7 TRQ. It ensures non-discriminatory trade practices, provides a common classification framework, and facilitates the collection of trade data. Understanding and correctly applying HS codes is essential for businesses and policymakers engaged in international trade.