How efficiently is your company managing its import activities?
Many companies are faced with high customs duties and processing fees for the import of goods into the United States. As such, duties and fees can be a significant expense for many companies. Companies importing goods into the US incur an immediate cost as goods cross the border. However, companies that either further assemble or process these imports, or inventory such goods for later distribution, may be able to reduce, prevent, or defer the US customs duty assessment and reduce processing fees. A company may achieve this result through the use of an existing foreign trade zone or by having their own facilities designated as a foreign trade zone.
Opportunity: Establishing a foreign trade aone (FTZ) to reduce customs duty, processing fees and costs
PricewaterhouseCoopers can assist you in determining the potential benefit of a FTZ and in implementing a FTZ for your company in cases where it benefits your customs position. The unique status of imported goods in a zone (the goods have not yet entered US commerce) can provide significant duty and operational costs benefits for importers, manufacturers, and distributors. The benefits may include inverted tariff benefits (e.g., finished goods duty rate lower than the parts and components duty rate), duty deferral on imports, duty avoidance on exports reduced processing fees, added security of supply chain and cost savings opportunities.
PricewaterhouseCoopers can deliver a full range of services, including cost/benefit analysis, application services, activation, systems selection assistance and compliance reviews of existing FTZ operations. Our FTZ team of professionals has proven experience in developing an integrated approach to meeting your business goals.
