Podcast
Questions and Answers
The Harmonized System is developed by the World Customs ______.
The Harmonized System is developed by the World Customs ______.
Organization
The Harmonized System is used by more than ______ countries.
The Harmonized System is used by more than ______ countries.
200
The main purpose of the HS is for customs tariffs and international trade ______.
The main purpose of the HS is for customs tariffs and international trade ______.
statistics
The 'Geneva Nomenclature' was prepared by a committee of experts under the auspices of the League of ______.
The 'Geneva Nomenclature' was prepared by a committee of experts under the auspices of the League of ______.
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The 'Brussels Tariff Nomenclature' came into force in ______.
The 'Brussels Tariff Nomenclature' came into force in ______.
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In 1974, the 'Customs Cooperation Council Nomenclature' was created to avoid confusion as to the international organization responsible for its ______.
In 1974, the 'Customs Cooperation Council Nomenclature' was created to avoid confusion as to the international organization responsible for its ______.
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The Harmonized Commodity Description and Coding System entered into force in ______.
The Harmonized Commodity Description and Coding System entered into force in ______.
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One use of the HS is monitoring prohibited and restricted ______.
One use of the HS is monitoring prohibited and restricted ______.
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The HS Nomenclature is based on the Standard International Trade Classification (SITC), a product of the United Nations and ______.
The HS Nomenclature is based on the Standard International Trade Classification (SITC), a product of the United Nations and ______.
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Revisions to the HS Nomenclature were undertaken in the years 1992, 1996, 2002, 2007, 2012, and ______.
Revisions to the HS Nomenclature were undertaken in the years 1992, 1996, 2002, 2007, 2012, and ______.
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The latest amendment to the HS Nomenclature became effective starting ______.
The latest amendment to the HS Nomenclature became effective starting ______.
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As of 27 February 2019, there are ______ Contracting Parties.
As of 27 February 2019, there are ______ Contracting Parties.
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The Philippines implemented the use of the HS Nomenclature on ______ in accordance with NEDA BOARD RESOLUTION.
The Philippines implemented the use of the HS Nomenclature on ______ in accordance with NEDA BOARD RESOLUTION.
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The Philippine Instrument of Accession to the HS Convention was signed by President Joseph E. ______.
The Philippine Instrument of Accession to the HS Convention was signed by President Joseph E. ______.
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The instrument of accession was formally deposited to the ______ on JUNE 25, 2001.
The instrument of accession was formally deposited to the ______ on JUNE 25, 2001.
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Countries that have adopted the HS are not permitted to alter the descriptions and numerical codes up to the ______-digit subheadings.
Countries that have adopted the HS are not permitted to alter the descriptions and numerical codes up to the ______-digit subheadings.
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Study Notes
The Harmonized System Nomenclature
- The Harmonized Commodity Description and Coding System (HS) is a multipurpose product nomenclature developed by the World Customs Organization (WCO).
- Over 200 countries utilize HS primarily for customs tariffs and international trade statistics, making it a universal economic language for goods.
- HS serves various functions including customs tariffs, international trade statistics, rules of origin, trade negotiations, and monitoring prohibited goods.
History of Harmonized System Nomenclature
- The need for a standardized customs classification emerged to address concerns about inconsistent coding systems.
- Significant historical milestones include:
- 1931: Introduction of the Geneva Nomenclature by a committee under the League of Nations.
- 1959: Launch of the Brussels Tariff Nomenclature, based on the Geneva Nomenclature, by the European Customs Union Study Group.
- 1974: Renaming to the Customs Cooperation Council Nomenclature to clarify the body responsible for its development.
- 1988: Adoption of the Harmonized Commodity Description and Coding System, derived from the UN's Standard International Trade Classification and the CCCN.
Harmonized System Convention
- The HS Nomenclature and General Interpretative Rules (GIRs) are elements of the HS Convention.
- Contracting Parties are required to align their tariff schedules with the HS structure, although they determine their own duty rates.
- Countries must adhere to descriptions and numerical codes up to six-digit subheadings to maintain standardization.
Philippines' Adoption of the Harmonized System
- The Philippines began using the HS Nomenclature on July 1, 1988, following a NEDA Board Resolution on November 25, 1987.
- Initially adopted on a de facto basis to align with international standards, the Philippines later became a formal Contracting Party.
- President Joseph E. Estrada signed the Instrument of Accession to the HS Convention on September 23, 1998, which was approved by the Senate on February 5, 2001, and deposited with the WCO on June 25, 2001.
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Description
This quiz explores the Harmonized Commodity Description and Coding System, known as the Harmonized System (HS). The HS serves as a universal language for international trade, facilitating customs tariffs and trade statistics across more than 200 countries. Test your knowledge on its uses and applications in the global economy.
