Tariff Fraction

The tariff fraction is a numerical code assigned to specific goods in a country's tariff nomenclature. What is 'Tariff Fraction' in Logistics? It plays a crucial role in logistics by providing a standardized and globally recognized system for product classification, which facilitates international trade operations and ensures compliance with customs regulations. Types These codes are divided into sections, chapters, headings, and subheadings. Below are the main levels and some examples: Sections: These are the most general categories and cover broad areas of products. For example, Section I addresses 'Live animals and products of the animal kingdom.' Chapters: These are subdivisions of sections and provide more detailed classification. For example, Chapter 84 contains 'Nuclear reactors, boilers, machinery, mechanical appliances and apparatus.' Headings: Provide more specific product descriptions. Following the previous example, Heading 8419 refers to 'Machinery and apparatus for refrigeration.' Functions They perform several key functions in the field of international trade and logistics, and companies like Control Terrestre can benefit from them in various ways: Product Identification: They provide specific codes to identify and classify products uniquely. Control Terrestre can use these codes to ensure that the goods it transports are clearly identified and classified according to customs regulations. Tariff Determination: Each tariff fraction is associated with specific tariff rates. Control Terrestre can accurately calculate the costs associated with customs tariffs. This helps in financial planning and pricing of logistics services. Customs Compliance: Correct identification and classification of goods is crucial for customs compliance. Control Terrestre can ensure that customs documents are complete.