TVI Foreign Trade Zone
If you’re importing goods from a foreign country and paying duties, the Foreign Trade Zone may benefit you.
View our Power Point presentation on the benefits of a Foreign Trade Zone (pdf format).
The Foreign Trade Zone is a unique ability granted to some U.S. facilities that allows duties to be deferred until the goods leave the facility. Supervised by U.S. Customs, items can be imported into the zone, and then stored, kitted, assembled or otherwise modified and then when the goods leave the trade zone that’s when duties are charged. These zones were set up by the Federal Government to “even the playing field” and offset advantages that some overseas suppliers have in the customs process.
This can provide a significant benefit to your import business! We’ll look at the products your importing and/or the goods your producing, and then can execute any one of or multiple services to reduce those duties upon exiting the trade zone, or deferring import duty payments to manage cash flow.
Listen to an interview with Constance Blair, President of Technology Ventures Inc., on the benefits of a Foreign Trade Zone and International Trade. http://globalbusinessperspectives.com/blog/2008/07/24/foreign-trade-zones/
