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A Harmonized System Code (Hs code or harmonized code) might be required to define the type of goods and their associated tax rate. The importer is usually required to provide information about the goods' country of origin and the certificate of origin. Errors on the forms can cause delays or confiscation of the goods.
Sri Lanka Customs (Sinhala: ශ්රී ලංකා රේගුව, romanized: Shri Lanka Reguwa, Tamil: இலங்கை சுங்கச் சாவடி) is a ministerial government department in Sri Lanka. The main functions of the department are,
The onus is firmly on the importer or exporter to ensure that any party acting on their behalf is in possession of the facts to do so. Article 5 of the current customs code (Council Regulation 2913/1992) deals with representation, a key concept. This provision allows an importer or exporter to appoint a third party to act on their behalf.
The process of assigning HS codes is known as "HS Classification". All products can be classified in the HS by using the General Rules for the Interpretation of the Harmonized System ("GRI") that must be applied in strict order. HS codes can be determined by a variety of factors including a product's composition, its form and its function.
Germany (440 code inherited from former East Germany upon reunification in 1990) 450–459 Japan (new Japanese Article Number range) 460–469 Russia (barcodes inherited from the Soviet Union) 470 Kyrgyzstan: 471 Taiwan: 474 Estonia: 475 Latvia: 476 Azerbaijan: 477 Lithuania: 478 Uzbekistan: 479 Sri Lanka: 480 Philippines: 481 Belarus: 482 ...
The South Asian Free Trade Area (SAFTA) is a 2004 agreement that created a free-trade area of 1.6 billion people in Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka with the vision of increasing economic cooperation and integration. [1]
The Third Round, entering into force on 1 September 2006, led to tariff concessions on more than 4,000 items. The Fourth Round, launched in October 2007, was scheduled to be concluded by the Third Ministerial Council in October 2009. This Round aims to widen the coverage of preferences to at least 50 per cent of the number of tariff lines of each
Currently 2024, the members of ACU are the central banks of Bangladesh, Bhutan, Iran, India, Maldives, Nepal, Pakistan, Sri Lanka, and Myanmar. The central banking authorities of member countries have issued detailed instructions and modalities for channeling the monetary transactions through the ACU.
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