Freeports are designed to specifically encourage businesses that import, process, and then re-export goods. The East Midlands Freeport (EMF) will therefore be outside of the UK’s VAT and customs area. As a result, goods can be moved in and out of the EMF to and from locations around the world, free from import VAT, duties, and some paperwork. Items sold within EMF may also be free of VAT. Goods held within the Freeport will be in duty and VAT suspension so will not trigger a VAT or duty charge. VAT and duty will only become payable when goods leave the Freeport into free circulation in the UK.
Source: hawsons.co.uk
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