Classification Projects

Dynamic Trade Group LLC

What Do I Need To Know About Classification Projects?

Dynamic Trade Group LLC

Classification of your commodity is perhaps the most critical piece of importing and exporting projects. They tell agencies and organizations what needs importing or exporting and how much each object will get sent overseas.

HTS classifications are perilous if you classify incorrectly, as you may be paying the wrong duty and tax on your products. This can result in a retrospective duty or tax bill for the back payment of all the goods you incorrectly classified. This can lead to substantial penalties and fines, and even cause your goods to be seized or destroyed.

An incorrect classification can also lead to overpayment of duty and tax, which has implications for your business’s cash flow. It is possible to make a retrospective claim for overpaid duties, but you must be able to fully back up your arguments for such a retrospective change and claim.

Tariff classification is a specialized skill that requires a broad knowledge base and experience. Not all importers or exporters necessarily have this expertise.

Correctly declaring goods to customs agencies is a key element of our services. Our customs and trade compliance team are experts at HTS classification and are ready to support you with advice on how best to classify your products.

We can identify where there may be a risk in your classification and optimize your classifications, taking advantage of available benefits – such as legitimate re-classification and reduced duty rates – and duty suspensions. To find out more about our HTS Classification advisory services and our wide range of customs and trade compliance services, please contact us.

What Is Classification?

To reach your overseas customers, your products must cross international borders. This can be a complicated process, involving various documentation and legal declarations. To ensure that this process runs smoothly, classifying the correct tariff of your products becomes a critical part of your compliance activity.

Whether a business has five products or 50,000 products, classification is a must.

We specialize in import & export compliance solutions for companies of every size

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    Why Is Classification Important?

    The Harmonised System (HS) was developed by the World Customs Organisation as a multipurpose international product classification that describes all products that may be internationally traded. For commodities to successfully cross international borders, the correct HS code (also known as an HTS code) must be declared. This code determines the appropriate duty and tax rate payable on the item.

    Dynamic Trade Group can help clients with their classification projects, both large and small. We work with businesses across the country to help them develop HTS classification for all of their products and services. We provide the tools and expertise that companies need to comply with all import and export rules and regulations.

    Contact Dynamic Trade Group

    If clients want a comprehensive, reliable service to streamline their import and export process, they should contact our international trade compliance consulting firm. Dynamic Trade works out of the Pacific Northwest in Washington, but we service clients worldwide. We would be happy to help our clients navigate their trade compliance and import/export issues.

    We have a wealth of expertise in the compliance, brokerage and supply chain industries, which has helped us guide clients through crucial business decisions and other issues. U.S and foreign countries’ regulations are not static but fluid and ever-changing. We have developed a positive reputation as a quality trade consulting service with many customers served over the years.

    If you have any questions, comments, or concerns, please reach out to us at (206) 678-7436. Our experts would be happy to help any client navigate their complex trade issues today. We understand that these issues can seem difficult to navigate, which is why our team is here to help.

    We look forward to working with you soon!

    We Take Professionalism To New Height