The Harmonised System (HS) is the global naming scheme that specifies in 8 to 14 digits exactly what a product is and even what it’s made from. Goods shipped outside the EU must be labelled with a commodity code that categorises them and thereby determines the correct taxes and duties. For instance, if the product is manufactured entirely in the EU and exported to a country that gives preferential treatment to EU nations, it might be given lower or nil rates of duty when it reaches the destination country. This means where the goods were manufactured, in whole or in part. Here’s more detail on a few of the key points above: Country of origin If you don’t have one, you can register here.
COMMERCIAL INVOICE REGISTRATION
This is your Economic Operator Registration and Identification number. Incoterms, including details on delivery and payment.The Harmonised System (HS) tariff code and a description in plain English of the goods.The quantity of goods, gross weight and net weight, and the number and weight of packages included.The terms of sale such as the price paid by the buyer, as well as the payment method, currency and any applicable discounts or extra charges.An invoice number and date of issue for the commercial invoice.
COMMERCIAL INVOICE FULL
In the sections below, we’ll look at what you need to include on your commercial invoices to ensure the shipping process runs smoothly for you (the seller) and your overseas buyer. Getting your commercial invoices right is essential for preventing hold-ups with your shipments and staying on good terms with customers and customs authorities. What are commercial invoices used for and why are they important? Commercial invoices are also used to create a customs declaration. It includes extra details than regular sales invoices to calculate tariffs and confirm the shipment is legal. What is a commercial invoice?Ī commercial invoice is a document created for international shipments containing important information about the export. Now you just need to get your goods to them by air, land or sea, but to do that you’ll need to produce a commercial invoice. So, your products are safely packed and new international customers are eagerly waiting for them to arrive.