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What Are The Advantages of Using a Foreign Trade Zone (FTZ)?

April 26, 2017advantages foreign ftz Trade zone

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What Are The Advantages of Using a Foreign Trade Zone (FTZ)?

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Foreign and domestic merchandise may be admitted into the FTZ for operations such as storage, exhibition, assembly, manufacture and processing, without being subject to formal Customs entry procedure and payment of duties and tariffs, unless and until the foreign merchandise enters Customs territory for domestic consumption. FTZs are also subject to other special considerations related to quota restrictions, ad valorem taxes and other import/export restrictions.