UK Issues Report on Consultation Period for Freeports
The United Kingdom released a report Oct. 7 on the comments received from its freeports consultation (see 2004080020) and outlined its plans for the project, including measures surrounding customs operations, taxes and other “policy considerations.” The report said responses were…
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“generally” positive about the proposed customs model for freeports, which will include “simplified declaration procedures” but remain focused on targeting illegal trade. The U.K. said it will continue compliance checks on goods entering freeport areas and touched on a range of other issues in the 48-page document, including freeport operators, trade remedies and value-added taxes. The document also summarizes questions it asked commenters during the consultation period. The U.K. said it will soon launch a “bidding process” to determine freeport locations.