to leave a comment.
Decision on classification of 10 import/export items
Customs duty is exempted for the so-called 'wireless charging mood lamp' clock, which combines a wireless charger, a digital clock, and an LED light.
The Korea Customs Service announced on the 14th that it decided on the classification of a total of 10 items at the 2nd Customs Tariff Classification Committee and published the amendment to the 'Notification of Changes in Tariff Classification for Import/Export Items, etc.' reflecting this decision in the Official Gazette.
Tariff classification is a key factor in determining the tariff rate and origin of imported goods.
The committee classified the wireless charging mood lamp clock not as a clock or electric lighting subject to an 8% tariff, but as a battery charger subject to a 0% tariff according to the World Trade Organization (WTO) concessionary tariff rate.
Factors such as the inclusion of high-speed charging technology, which concentrates advanced technical skills compared to the simple additional functions of a clock and lighting, were considered.
The Korea Customs Service stated that this decision is significant in that it provides clear item classification standards for the growing home appliance market with an increasing number of multi-functional complex products, thereby enhancing the predictability of import and export for businesses.
'Speaker grills (covers)' for protecting speaker modules embedded in car doors were classified as 'parts of vehicles' subject to a basic tariff of 15% in India and a product tariff of 25% in the United States.
The Korea Customs Service expects this to prevent confusion in item classification for the automotive parts import/export industry and support accurate import/export declarations.
Newsletter
Get key news delivered to your email every morning
to leave a comment.