Freeports benefit companies since they provide for tax leverage since goods arriving from overseas only pay tariffs once they leave the freeport and enter the United Kingdom (UK) customs area. There are more than 3500 freeports worldwide and the UK had seven freeports until 2012. However, except from the one located in the Isle of Man there are no longer any UK freeports. As of 6th April 2020, there around 80 ‘free zones’ in the European Union (EU), according to the European Commission. Read More.
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