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The Jamaican Free Zones are a government free trade zone initiative in Jamaica.Designed to encourage foreign investment and international trade, businesses operating within these zones have no tax on their profits, and are exempted from customs duties on imports and exports (capital goods, raw materials, construction materials, and office equipment) and import licensing requirements.
The act 5 Geo. 3. c. 45, sometimes called the Customs, etc. Act 1765, [1] the Customs Act, [2] the Duties Act, [3] or the American Act, [4] was an Act of the Parliament of Great Britain. This Act aimed to encourage imports to Great Britain from its American dominions, under the system of Trade and Navigation Acts.
The Customs Tariff Act also known simply as the Customs Tariff, is a Canadian Act of Parliament regulating the implementation of tariffs and export duties by Canada with respect to trade, whether it is covered by an individual free trade agreement made by Canada and another country or trade outside of an agreement, countries designated as least-developed countries, and all other countries.
Additionally, under the Jamaica Free Zone Act, any enterprise with approval from the Port Authority could import certain items without any customs duties. [ 16 ] : 183–184 Any remaining local labour controls were of little concern to foreign companies, since Jamaican workers were typically excluded from all steps except for manufacturing.
Amended several times, the last substantive revisions were made in the Caribbean Basin Economic Recovery Expansion Act of 1990 (P.L. 101–382, Title II, August 20, 1990). This made trade benefits permanent (repealing the September 30, 1995 termination date).
A customs territory is a geographic territory with uniform customs regulations and there are no internal customs or similar taxes within the territory. Customs territories may fall into several types: A sovereign state, including a federation; A trade bloc that has a customs union
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Privatization of customs has been viewed as a fatal remedy. [9] In many countries, import and export data are issued on the basis of national laws (Transparency Laws / Freedom of Information Act). [10] There has, however, been some speed bumps when transitioning customs over from the public to private sector. Factors such as an incompetent ...
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