5 good reasons to invest in customs product codes

Everyone knows that commodity codes play a key role in customs declaration. But have you ever stopped to think about how little information the codes actually contain?

Commodity codes are always accumulative data; they do not provide much detailed information on the product, and indeed the same commodity code can be used for a rather wide range of products. The commodity code itself does not specify e.g. the country of origin, manufacturer, or even the product material or unit price in some cases. It does, however, broadly specify the type of commodity and any restrictions or conditions that apply. And of course, it conveys the most important piece of information: the amount of customs duties levied on the product by Finnish Customs.

 

Commodity codes are good, but product codes are even better

A product code that identifies a specific product is a more detailed source of information than a commodity code. It provides all of the essential information about a product that commodity codes do not contain. The commodity code itself can also be included in the product code.
1. Product codes help to explain the actual cost of the product when imported to Finland.
2. Product codes allow for precise import and export monitoring.
3. Product codes enable customs correction reporting.
4. Product codes can help to monitor various statistics about quantities of imported products and any applicable procedures.
5. Product codes make it possible to monitor changes to customs costs for products.

 

Utilising product codes in reporting

Companies can choose whether to use a commodity code as an independent identifier or as part of a product code. Choose the latter if you want to make the most of the benefits listed above and take advantage of them in your operations.

A good product code can convey large amounts of information. It must, however, be based on a correct and valid commodity code. This will also be important in the future, and that’s why it’s important to focus and invest on this.

We at SA-TU Logistics are able to combine product code customs declaration with comprehensive, thorough and itemised customs reporting. This levels up customs security and monitoring, along with the associated benefits, for companies.

Would you like to hear more about the concrete benefits that product codes could provide for your company? Get in touch and we’d be happy to tell you more: sales@sa-tu.com