FloridaWest can bring the advantages of Foreign Trade Zone (FTZ) directly to your company to lower importing costs, enhance inventory control and improve supply chain pace and flexibility.
- Defer, reduce or eliminate duties
- Reduce the number of normal customs entries
- Eliminate duty on goods processed in and exported from the zone
- Reduce or eliminate duty on capital equipment used in production
- Avoid quota restrictions on merchandise admitted and held within zones
- Allow imported materials and parts to be delivered directly to the zone site
- Reduces federal excise taxes and some state inventory taxes when applicable
- Allow duty-free transfer of goods among multiple zones
What is a Foreign Trade Zone?
Foreign-Trade Zones are secure areas under supervision of U.S. Customs and Border Protection that are considered outside the customs territory of the U.S. for the purposes of duty payment.