Every importer and exporter of merchandise globally is required
to include as part of their documentation a numeric code that
corresponds with the type of good that is being traded. This code
is generally between 8 and 13 digits and is used by governments to
identify the type of goods for the collection of taxes and tariffs,
the identification of controlled goods (like waste products,
narcotics, chemical weapons, endangered species, etc.), and
statistical collection and by companies to calculate the landed
cost of goods when importing and to identify those who are involved
in selling or sourcing of goods overseas. Due to the important role
these codes play, penalties for using the wrong code can be steep
and can include significant fines, potential seizure of goods at
the border, and even the removal of import/export privileges.
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