Find HS Code and trade information for SPLITPIN

SPLITPIN

Definition:

SPLITPIN is a mobile application designed to simplify the process of sharing expenses within groups. It functions as a digital ledger and payment platform, allowing users to track who owes what, and facilitating easy settlement of debts.

Purpose:

The core purpose of SPLITPIN is to eliminate the awkwardness and complexity of manually calculating and collecting money from friends, roommates, or travel companions after shared expenses. It aims to provide a transparent and convenient solution for managing group finances.

Function:

• Expense Recording: Users can easily input shared expenses, specifying the total amount, payer, and participants.
• Automatic Calculation: The app automatically calculates each individual's share based on predefined rules (equal split, percentage, custom amounts).
• Debt Tracking: It maintains a running balance of who owes whom within the group.
• Payment Reminders: SPLITPIN sends notifications to remind users about outstanding debts.
• Payment Integration: The app often integrates with various payment platforms (e.g., Venmo, PayPal, bank transfers) to facilitate easy settlement.
• Group Chat: Many SPLITPIN apps include a group chat feature to discuss expenses and coordinate payments.

Usage Scenarios:

• Travel: Tracking shared costs like accommodation, food, and activities.
• Roommates: Managing rent, utilities, and shared groceries.
• Group Events: Splitting the cost of parties, dinners, or gifts.
• Household Expenses: Organizing shared expenses within families.
• Freelance Projects: Dividing costs among collaborators.

Common Types / Features (across different apps):

• Simple Split: Equal division of expenses among participants.
• Unequal Split: Custom amounts assigned to each participant.
• Percentage Split: Expenses divided based on pre-defined percentages.
• Category Split: Expenses categorized (e.g., food, transportation, entertainment) and split accordingly.
• Recurring Expenses: Tracking regular bills and automatically calculating shares.
• Currency Support: Handling expenses in multiple currencies.
• Offline Functionality: Recording expenses even without an internet connection.
• Export Data: Ability to export expense data for personal records.

Platforms:

SPLITPIN apps are available on both iOS and Android platforms. Popular examples include Splitwise, Tab, and Bill Splitter.

SPLITPIN, based on the provided information, falls under the category of fasteners. Here's a breakdown of relevant HS codes:

• 7318.24.00.00: This HS code covers screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter pins, washers (including spring washers) and similar articles, of iron or steel; non-threaded articles; cotters and cotter pins. The first two digits (73) indicate articles of iron or steel. The next two digits (18) specify fasteners, screws, bolts, nuts, etc. The final digits (24.00.00) further refine this to non-threaded articles, specifically cotters and cotter pins. The total tax rate is 108.8%.
• 7318.29.00.00: This HS code also covers screws, bolts, nuts, coach screws, screw hooks, rivets, cotters, cotter pins, washers (including spring washers) and similar articles, of iron or steel; non-threaded articles; other. Similar to 7318.24.00.00, the first two digits (73) indicate articles of iron or steel, and the next two digits (18) specify fasteners. However, this code covers "other" non-threaded articles within this category. The total tax rate is 107.8%.

Regarding HS code 7318.24.00.00 and 7318.29.00.00, please note that these products are subject to a base tariff of 3.8% or 2.8%, respectively, with additional surcharges of 25.0%. Furthermore, a surcharge of 30.0% will be applied after April 2, 2025. A 50% surcharge applies to steel and aluminum products.