What does the Harmonized System Explanatory Notes contain?
The Explanatory Notes provide a commentary on the scope of each heading, giving a list of the main products included and excluded, together with technical descriptions of the goods concerned (their appearance, properties, method of production and uses) and practical guidance for their identification..
What is the structure of the Harmonized System?
The Harmonized System is a structured nomenclature comprising a series of 4-digit headings, most of which are further subdivided into 5- and 6-digit subheadings.
What is the main purpose of Harmonized System of nomenclature?
It provides updated information about tariffs and explanatory notes in order to import and export goods from/to Mexico. It compiles information of many national and international legal regulations.
When may the Harmonized System nomenclature be amended?
HS 2022, which is the seventh edition of the Harmonized System (HS) nomenclature, is used worldwide for the uniform classification of goods traded internationally, and has been accepted by all Contracting Parties to the Harmonized System Convention. It shall enter into force on 1 January 2022.
Who uses the Harmonized System?
The system is used by more than 200 countries and economies as a basis for their Customs tariffs and for the collection of international trade statistics. Over 98 % of the merchandise in international trade is classified in terms of the HS.
What is the Harmonized System HS )? State why HS is considered as multi purpose tool?
The HS has neared universal coverage, providing the strongest globally unifying trade classification tool in history. At the international level, the Harmonized System is based on a hierarchy of Sections, Chapters, headings and subheadings.
What is the Harmonized System Committee?
The purpose and scope of the HS Committee is to : interpret the HS legal texts in the most appropriate manner to secure uniform classification of goods, including settlement of classification disputes between CPs, thus facilitating trade (uniform interpretation and application);
What is meant by explanatory notes?
Explanatory statements or theories are intended to make people understand something by describing it or giving the reasons for it. […] [formal] See full entry.
What are explanatory notes definition?
Explanatory or content notes are used to add explanations, comments or other additional information relating to the main content but would make the text too long or awkward to read. Such notes may include supporting references.