Free Zones - Free zones are designated
areas which receive special treatment through their
exclusion from the area to which the country's normal
customs rules apply. A free port is one at which imports
may be landed without paying customs duties. The system
of free zones or free ports favours export processing,
transhipment and the entrepot trade since there is
no need to pay and then reclaim customs duties. Though
free zones are often part of a tax incentive package
in what would otherwise be a high tax jurisdiction,
they may also be found in tax havens, e.g. Freeport
in the Bahamas.
