Search results
Results from the WOW.Com Content Network
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.
It is the tenure usually associated with indigenous communities and administered in accordance with their customs, as opposed to statutory tenure usually introduced during the colonial period. [2] [3] Since the late 20th century, statutory recognition and protection of indigenous and community land rights continues to be a major challenge.
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 ...
Free-trade zones can also be defined as labor-intensive manufacturing centers that involve the import of raw materials or components and the export of factory products, but this is a dated definition as more and more free-trade zones focus on service industries such as software, back-office operations, research, and financial services.
However, a customs union without a common external tariff is not a real customs union, so the full-scale launch of the customs union took place only on 1 January 2010. A 2004 International Monetary Fund publication noted that it was not a customs union (which requires a common external tariff) but a free trade area (as of 2004). [53]
According to the 1999 Revised Kyoto Convention, a "'free zone' means 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 being outside the customs territory". [99]
Metes and bounds is a system or method of describing land, real property (in contrast to personal property) or real estate. [1] The system has been used in England for many centuries and is still used there in the definition of general boundaries.