A Foreign Trade Zone (FTZ) is a designated, enclosed area near a port where goods can be stored, inspected, packaged, or undergo other processes without the assessment of duties or customs fees.
A Free Port is a designated port area where ships can load and unload without the imposition of customs duties, enhancing trade efficiency and economic activities.
HM Revenue and Customs (HMRC) is the UK government department responsible for the care, management, and collection of direct and indirect taxes, National Insurance contributions, and customs and excise duties within the UK. It was established from a merger of the Board of Inland Revenue and the Board of Customs and Excise in April 2005.
