Foreign Trade Zone
A Foreign Trade Zone is a geographically defined area that is within the United States and designated by the Federal government as an area that is considered outside of the United States for U.S. Customs purposes.
The benefits of using a Foreign Trade Zone include:
- No duty is paid on goods imported in the United States and then exported.
- Duty is deferred in a Free Trade Zone. Duty is paid on imported goods only when it is withdrawn from the Free Trade Zone.
- No inventory tax is paid to local taxing authorities on imported products or domestic products destined for export stored in the Foreign Trade Zone.
For more detailed information, please contact
Brian Randolph.
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