Every traded good carries a classification code, and that code determines the duty rate, whether a licence is required, whether the item is restricted, and which preferential arrangements can apply. It is not a clerical field on the declaration — it is the input that most of the commercial arithmetic depends on.
Getting it wrong is expensive in both directions. Under-classify and you face retrospective duty, penalties and a compliance record that follows you. Over-classify and you have quietly priced yourself out of a deal. We settle classification while the offer is still being built, using the technical specification rather than the sales description, and we document the reasoning so it can be defended years later.
Harbour Strategies (HK) Limited · 21 January 2025
Editorial commentary by Harbour Strategies. Figures and regulatory details should be verified against primary sources before being relied upon.
