ATC Logistics & Electronics, based in Fort Worth, TX, has introduced a service to help customers utilize the services of a foreign trade zone. The ATCLE FTZ offering is intended to reduce expenses on import duties, tariffs and fees. It helps users to streamline the import and export of electronics equipment and components on a worldwide basis, the vendor said. ATCLE will guide each customer through the complete FTZ process, with detailed explanations of corresponding benefits, especially those related to the elimination or reduction of import expenses. FTZs offer a number of advantages, including duty avoidance, elimination and inversion. Import duties are not applied until items are removed from the zone and remain in the U.S. for ultimate destination. No fees apply to exports. Business property taxes for exported goods can be eliminated, as the FTZ is considered to be outside the boundaries of the state of Texas. In addition, merchandise processing fees can be reduced to an annual consolidated maximum of approximately $25,000, ATCLE said.
Read Full Article
Timely, incisive articles delivered directly to your inbox.