The British Government says that a Plymouth Freeport will be a secure custom zone in the Port where business can be carried out inside the city’s administrative borders, but where different custom rules apply.
The Government’s Freeport Consultation paper says: “The Freeport will reduced administrative burdens and tariff controls, provide relief from duties and exports taxes, and ease tax and planning regulations.”
The consultation paper says: “Typically, goods brought into the Plymouth Freeport do not attract a requirement to pay duties until they leave the Freeport and enter the domestic market – and no duty at all is payable if they are re-exported.”
“If raw materials are brought into the Plymouth Freeport from overseas and processed into a final good before entering the British domestic market, then duties will be paid on the final good.”
The Consultation papers also says: “Freeport’s may also offer simplifications to the normal customs administrative processes on imported goods.”
HMS DIAMOND LOOKING TOWARDS THE GOE FORESHORE
Image Kevin Kelway (Westward Shipping News).