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Sunday, 22 September 2013

What is free port?

A free port is a part of a harbour where goods delivered by a ship are not initially made subject to import duties. The goods are stored or processed further within the fenced area of the harbour. The owners are allowed to again transport the goods from there to other places by ship without paying any clearance tax. Excise and taxes are levied only when the goods are taken beyond the harbour and into the hinterland. The money is collected by the customs offices at the exists of the free port.

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