If you are an importer of raw materials, component parts or finished goods, you may be concerned about how the current administration’s proposed import tariffs may impact your business. A foreign trade zone (FTZ) may be a way to reduce, defer or even eliminate some of these tariffs.
An FTZ is a designated, restricted-access site in the U.S. that is legally considered outside of customs territory for the purpose of duties and taxes. Goods can therefore be imported into the FTZ duty-free and without formal customs entry. Tariffs and duties are paid only at the time that goods are transferred out of the zone for U.S. consumption (often at a lower duty rate than the foreign inputs). For those goods that are re-exported from the FTZ (i.e., they never enter the U.S. economy), it is possible that no duties will ever be owed.
Clark Schaefer Hackett has teamed up with FTZ experts in Central, Northwest and Southwest Ohio to provide three informative seminars about FTZs to help you determine whether your organization could benefit. Speakers include Angie Atwood, AZS, FTZ Administrator; Business Development, Columbus Regional Airport Authority.
You’ll learn about:
- What FTZs are and how they work
- Benefits of FTZs
- Types of businesses that can benefit most
- Different types of FTZ designations
- Application, implementation, activation & approval process
8:00 AM – 8:30 AM Registration & Breakfast
8:30 AM – 10:00 AM Program