Customs Site No. 2 at Freeport East has been officially designated as a free zone under the Customs and Excise Management Act 1979, with Assan Panel UK Limited appointed as the responsible authority for managing the zone. Free zones are special customs areas that allow businesses to store, handle and process goods with deferred or reduced customs duties and excise taxes. This designation enables the site to operate under specific customs arrangements and exemptions governed by the appointed authority.
Source: legislation.gov.uk – Read the original