HS 490700 Postage, revenue and similar stamps

The import duty rates for HS code 490700 vary significantly by country. For example, under the United States Harmonized Tariff Schedule (USHTS), the Most Favored Nation (MFN) duty rate is Free. In the European Union, under the TARIC system, the rate is also typically Free. The UK Trade Tariff also lists a Free rate for most preferential origins. However, it is crucial to consult the specific tariff schedule of the importing country for the definitive rate, as some countries may apply specific duties or higher rates for non-preferential origins. Always verify the latest rates on official government customs websites.

HS code 490700 covers 'Postage, revenue and similar stamps, cancelled or uncancelled, or paper, in rolls or in sheets'. This means the classification applies to stamps that have been officially issued by a government or authorized body for the prepayment of postage, taxes, duties, or fees. This includes unused postage stamps, revenue stamps (e.g., for taxes, licenses), fiscal stamps, and similar items. It also extends to the paper material specifically prepared for the production of such stamps, whether in rolls or sheets. Items not fitting this description, such as collectible non-revenue stamps or decorative stickers, would be classified elsewhere.

When importing postage, revenue, and similar stamps under HS code 490700, standard import documentation is generally required. This includes a commercial invoice detailing the sender, receiver, description of goods, quantity, and value. A packing list is also advisable. For stamps that represent a form of payment or have monetary value, customs authorities may require additional declarations or proof of legitimate acquisition and intended use. For example, if importing large quantities of unused postage stamps for resale, documentation proving the source and authorization might be necessary. Always check with the customs authority of the destination country for any specific endorsements or permits.

While many countries offer Free entry for HS code 490700, some may apply specific duties, often based on weight. For instance, if a country applied a duty of 66¢/kg, the duty calculation would be straightforward: Duty = Rate per unit × Quantity. If you were importing 10 kilograms of stamps, the duty would be 66¢/kg × 10 kg = $6.60. If an ad valorem rate (a percentage of the value) were applied, say 3.5%, and the declared customs value of the shipment was $1,000, the duty would be 3.5% of $1,000, which equals $35.00. It is critical to confirm the exact duty basis (weight, value, or a combination) and the applicable rate from the importing country's official tariff schedule.

Trade agreements can indeed affect duty rates for HS code 490700. For example, under the United States-Mexico-Canada Agreement (USMCA), goods originating in Canada or Mexico may qualify for Free entry, which is often already the MFN rate, but it solidifies the preferential treatment. Similarly, many Free Trade Agreements (FTAs) that the European Union has with third countries provide for reduced or Free duty rates on goods originating from those partner countries. To claim preferential treatment under any trade agreement, importers must ensure the stamps meet the rules of origin stipulated in the agreement and possess the required proof of origin documentation, such as a certificate of origin or a declaration on the invoice, as specified by customs regulations.