HS 890332 Of a length exceeding 7,5 m but not exceeding 24 m

For imports into the United States, HS code 890332 generally carries a 1.5% ad valorem duty rate under the Most Favored Nation (MFN) tariff. In the European Union, the rate is typically 1.70% ad valorem. For the United Kingdom, the duty rate is often Free (0.00%) under the UK Global Tariff, though specific trade agreements or origin details may apply. Always consult the latest official tariff schedules of the respective countries (USITC for the US, EU TARIC for the EU, and UK Trade Tariff for the UK) for the most current and precise rates, as these can change and may be subject to specific trade policies or origin rules.

The duty for HS code 890332 is calculated on an ad valorem basis, meaning it's a percentage of the value of the imported goods. For example, if a yacht classified under 890332 has an entered value of €500,000 and the EU duty rate is 1.70%, the import duty would be calculated as: €500,000 (value) × 0.0170 (duty rate) = €8,500. The value used for duty calculation is typically the customs value, which includes the cost of the yacht, insurance, and freight to the EU border. Importers must ensure accurate valuation and provide all necessary supporting documentation.

HS code 890332 specifically covers 'Yachts and other vessels for pleasure or sport; sailing boats, including with a hull and a superstructure, of a length exceeding 7.5 m but not exceeding 24 m'. The primary classification criteria are: 1. Type of Vessel: It must be a yacht or other vessel intended for pleasure or sport. 2. Propulsion: It can be powered by sail, engine, or both. 3. Length: The overall length of the vessel's hull must be greater than 7.5 meters and not exceed 24 meters. Vessels outside this length range will be classified under different subheadings within HS 8903. Verification of the vessel's official length certificate is crucial for correct classification.

Several trade agreements can provide preferential duty rates for HS code 890332. For instance, agreements between the EU and countries like Australia (AU), Canada (CA), or South Korea (KR) may offer reduced or zero duties. Similarly, the US has agreements with countries like Australia (AU) and South Korea (KR) that could impact duties. The UK also has numerous trade agreements offering preferential rates. To claim preferential treatment, importers typically need a 'Proof of Origin' document, such as a Certificate of Origin or an origin declaration on the invoice, issued by the exporter in the beneficiary country. The specific requirements vary by agreement, so consulting the relevant trade agreement text and the customs authority of the importing country is essential. For example, a yacht originating from a country with a Free Trade Agreement (FTA) with the importing nation might be eligible for a 'Free' duty rate (0.00%) instead of the standard MFN rate.

When importing a vessel classified under HS code 890332, several key documents are typically required by customs authorities. These include: 1. Commercial Invoice: Detailing the sale, price, and parties involved. 2. Bill of Lading or Air Waybill: Proof of shipment. 3. Proof of Ownership: Such as a title or registration document for the vessel. 4. Vessel Specifications: Including length, beam, draft, and propulsion type to confirm HS classification. 5. Proof of Origin: If claiming preferential duty rates under a trade agreement. 6. Import Declaration: A formal declaration of the goods being imported. 7. Safety and Environmental Certificates: Depending on the importing country's regulations, certificates related to safety standards or emissions may be required. Customs brokers play a vital role in ensuring all necessary documentation is accurate and submitted on time to facilitate smooth clearance.