Wonder if the CVRD is aware of the changes. I can always count on the VP of KIP providing a good belly laugh. The guy just keeps pumping them out and never runs out of funny material.
What is a Foreign Trade Zone (FTZ)?
While there is no precise definition of what constitutes a foreign trade zone (FTZ), the term generally refers to a specific location within a country that is officially designated for eligibility for tariff and tax exemptions with respect to the purchase or importation of raw materials, components or finished goods. Such materials and goods can generally be stored, processed or assembled in the FTZ for re-export (in which case taxes and duties generally would not apply) or for entry into the domestic market (in which case taxes and duties would be deferred until the time of entry).