Airway Heights, Washington Mar 17, 2022 (Issuewire.com) - You may have heard the term foreign trade zone mentioned in an economics class, but you may not know how it can benefit your company. Well, you’re about to find out! But first, let’s define what a foreign trade zone is and why companies like yours should be interested in it.
What are Foreign Trade Zones (FTZ)?
A foreign trade zone is a virtual foreign territory where goods may be stored, exhibited, or processed sans hassle and compliances.
- Goods moving through FTZs need not pay upfront customs duties until sold in domestic commerce.
- This means that while they are within an FTZ, merchandise can be stored at duty-free prices but still considered as part of your inventory as far as accounting goes.
- Thus you enjoy lower taxes overall.
Free Zone Company in India
A foreign trade zone (FTZ) in India is designated within an Indian port or airport that enables duty-free imports of goods and other benefits.
Warehouse Company in India helps to save -
- Time
- Effort
- Money
- And more while importing/exporting goods into India.
If you’re looking for a warehousing & logistics Company in India, then you can visit www.onnsynex.com and read to learn what FTZ can do for your business. Keep reading to find out if an FTZ would benefit your company.
The benefits of working with an FTZ Warehouse Company in India
A Foreign Trade Zone unit in India can help you avail of several tax benefits.
- If a foreign trader does their business via this warehouse, he can save import duties on several goods he imports into India by deferring them
- Goods imported by you as owner or tenant of FTZ unit are entitled to export benefits as stored in a foreign virtual territory
- Your Supply Chain Compliances are reduced as it is deemed to be a foreign territory
Media Contact
OSV FTWZ *****@onnsynex.com 9599886350 1-A Ground Floor, Vipul Agora, MG Road, Gurgaon-122002, Haryana https://www.onnsynex.com/
