HS 340520 Polishes, creams and similar preparations, for the maintenance of wooden furniture, floors or other woodwork

Import duty rates for HS code 340520 can vary significantly by country. For example, under the United States Harmonized Tariff Schedule (US HTS), the general (Most Favored Nation - MFN) duty rate is Free. However, preferential rates under trade agreements may apply. In the European Union, the TARIC system indicates a rate of 3.5% ad valorem for goods originating from countries without a preferential trade agreement. For the UK, the duty rate is also 0.00% as of recent tariff data. Always consult the specific tariff schedule of the importing country for the most accurate and up-to-date rates.

The duty calculation for HS code 340520 is typically based on the ad valorem system, meaning a percentage of the declared customs value of the goods. For instance, if a shipment of wood polish is valued at $10,000 USD and the applicable MFN duty rate is 3.5% ad valorem, the import duty would be calculated as: Duty = Value × Duty Rate = $10,000 × 0.035 = $350. Some countries may also apply specific duties based on quantity (e.g., per liter or per kilogram), but for this code, ad valorem is most common. Always confirm the basis of duty calculation with the importing country's customs authority.

To be classified under HS code 340520, 'Polishes, creams and similar preparations, for the maintenance of wooden furniture, floors or other woodwork,' the product must be specifically formulated and presented for the care, protection, and beautification of wood surfaces. This includes products like furniture polish, wood floor wax, and wood conditioners. The preparation should primarily consist of waxes, oils, solvents, or emulsifiers designed to clean, shine, or protect wood. Preparations for other materials (e.g., leather, metal, plastics) or those with significant abrasive or cleaning agent components that are not primarily for wood maintenance would be classified elsewhere.

While specific documentation can vary by importing country and the nature of the goods, common requirements for importing products under HS code 340520 include a commercial invoice detailing the value, quantity, and description of the goods; a packing list; a bill of lading or air waybill; and a certificate of origin if preferential duty rates are being claimed under a trade agreement. Importers should also be prepared to provide Safety Data Sheets (SDS) or technical data sheets that confirm the product's composition and intended use, especially if customs authorities require verification of classification. Compliance with chemical import regulations, if any, should also be verified.

Several trade agreements can impact duty rates for HS code 340520. For imports into the United States, the USMCA (United States-Mexico-Canada Agreement) may provide duty-free entry for qualifying goods originating from Canada or Mexico. The Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) could also offer preferential rates for goods from member countries. In the European Union, the Generalized Scheme of Preferences (GSP) and numerous Free Trade Agreements (FTAs) with countries worldwide can reduce or eliminate duties. For the UK, agreements like the UK-EU Trade and Cooperation Agreement or other bilateral FTAs may apply. It is crucial for importers to obtain a valid Certificate of Origin from the exporter to substantiate claims for preferential treatment under these agreements.