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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; An autonomous or dependent territory that is granted by the ...
Most commonly a free port is a special customs area or small customs territory with generally less strict customs regulations (or no customs duties or controls for transshipment). Earlier in history, some free ports like enjoyed political autonomy.
The European Union Customs Union (EUCU), formally known as the Community Customs Union, is a customs union which consists of all the member states of the European Union (EU), Monaco, and the British Overseas Territory of Akrotiri and Dhekelia. Some detached territories of EU states do not participate in the customs union, usually as a result of ...
The fifty states, the District of Columbia, and Puerto Rico form the main customs territory of the United States. Special rules apply to foreign trade zones in these areas. Separate customs territories are formed by American Samoa, Guam, Northern Mariana Islands, the U.S. Minor Outlying Islands, and the U.S. Virgin Islands.
A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff. [ 1 ] Customs unions are established through trade pacts where the participant countries set up common external trade policy (in some cases they use different import quotas ).
1937 poster celebrating the United States' first foreign trade zone, Staten Island In the United States, a foreign-trade zone (FTZ) is a geographical area, in (or adjacent to) a United States port of entry, where commercial merchandise, both domestic and foreign, receives the same Customs treatment it would if it were outside the commerce of the United States.
The definition should be understood in meaning The International Convention on the Simplification and Harmonization of Customs Procedures (Revised Kyoto Convention) uses the term “free zones” which the revised convention describes as “a part of the territory of a Contracting Party where any goods introduced are generally regarded, insofar as import duties and taxes are concerned, as ...
A customs officer in Amsterdam Airport Schiphol checks the luggage of an incoming traveler. Vienna Convention road sign for customs. Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country.