The HS Code Mistake: How One Wrong Digit Added €89K in Duties

Are you confident your international trade operations are fully compliant and cost-efficient? A single, seemingly minor error in your Harmonized System (HS) code can have devastating financial consequences. This video exposes how an innocent typo in an HS code led to an unexpected €89,000 increase in import duties for one business. For international creditors, CFOs, and accounts receivable professionals, understanding HS code accuracy is not just about avoiding penalties; it's about safeguarding your bottom line, ensuring predictable cash flow, and maintaining healthy relationships with your trading partners. This isn't a theoretical exercise; it's a stark reminder that operational diligence in international trade directly impacts profitability and risk. Discover the real-world impact of HS code errors and learn how to prevent them from derailing your international business.