HS 150940 Other virgin olive oils

Import duty rates for HS code 150940 vary significantly by country and trade agreement. For example, the UK imposes a rate of 102.00 GBP per 100 kg. The EU's TARIC system may apply rates such as 122.60 EUR per 100 kg. In the United States, the rate is often 5¢/kg on contents and container, though specific trade agreements can offer preferential or duty-free access. For instance, under certain agreements (indicated by codes like A, AU, BH, CL, CO, D, E, IL, JO, KR, MA, OM, P, PA, PE, S, SG), the duty may be Free. Always consult the specific tariff schedule of the importing country for the most accurate and up-to-date rates.

The duty calculation for HS 150940 typically depends on whether the duty is ad valorem (based on value) or specific (based on weight). For specific duties, like the 5¢/kg rate sometimes seen in the US, the calculation is straightforward. For example, if you import 1,000 kg of olive oil classified under HS 150940 with a specific duty of 5¢/kg, the duty would be 1,000 kg * $0.05/kg = $50.00. If the duty were an ad valorem rate (e.g., 3.5%), you would multiply the customs value of the goods by the percentage. For a shipment valued at $10,000 with a 3.5% ad valorem duty, the duty would be $10,000 * 0.035 = $350.00. It is crucial to verify the duty basis (weight or value) and the exact rate applicable to your shipment.

HS code 150940 specifically covers 'Other virgin olive oils' that do not fall under more specific subheadings within HS 1509. The key criterion for virgin olive oil, as defined by the International Olive Council (IOC) and recognized by customs authorities, is that it is obtained solely by mechanical or other physical means, under conditions, particularly thermal conditions, that do not lead to alteration of the oil. It must not have undergone any treatment other than washing, decantation, centrifuging, or filtration. 'Other virgin olive oils' typically refers to virgin olive oils that are not specifically classified elsewhere, such as virgin olive oil of a specific origin or type if such distinctions are provided for in national tariff schedules. Importers must ensure their product meets the chemical and organoleptic standards for virgin olive oil and is not a refined, pure, or other type of olive oil.

Several trade agreements can provide preferential or duty-free treatment for HS 150940. For instance, agreements between the EU and countries like Chile (CL), Egypt (E), or Morocco (MA) may offer reduced or zero duties. Similarly, agreements involving the US with countries like Australia (AU) or South Korea (KR) might provide benefits. The specific preferential rates are often indicated by symbols or codes within the tariff schedule (e.g., the 'Free (A,AU,BH,CL,CO,D,E,IL,JO,KR,MA,OM,P,PA,PE,S,SG)' example). To claim preferential treatment, importers and customs brokers must typically provide a Certificate of Origin (COO) issued by the exporting country's competent authority, or a declaration of origin completed by the exporter, demonstrating that the goods meet the rules of origin stipulated in the relevant trade agreement. Consult the specific trade agreement and the importing country's customs regulations for exact documentation requirements.

When importing HS 150940 into the EU or UK, standard import documentation is required, including a commercial invoice, packing list, and bill of lading/air waybill. For olive oil, specific documentation may be necessary to ensure compliance with quality and origin standards. This can include a Certificate of Origin to claim preferential duty rates under relevant trade agreements. Additionally, depending on the importing country's specific regulations and the origin of the olive oil, a health certificate or phytosanitary certificate might be required. For HS 150940, which denotes 'Other virgin olive oils,' proof that the product meets the definition of virgin olive oil (obtained mechanically, without refinement, and meeting specific chemical and sensory criteria) is essential. Importers should verify the latest requirements with the customs authorities of the destination country, such as the UK's Trade Tariff or the EU's TARIC database.