Defer Customs Duties

Netwin Solutions’ GTKonnect FTZ (or Foreign Trade Zone) Software automates and simplifies zone-related data management, deadlines and reporting. It reconciles with inventory Bill of Materials (BoM), exception reporting, and integration with other software systems and partner organizations to reduce data entry. The U.S. Foreign Trade Zone program allows companies to defer paying customs duties, fees, and taxes on merchandise that is imported into the United States until it is consumed, used in construction, or leaves the zone. The software provides end-to-end management of zone requirements with zone admission (or e-214 filing) to notify U.S. customs of merchandise entering the zone via automated broker interface (ABI) link, QP/WP reporting for goods that arrive in one location and are being shipped to the zone or exported out of the zone, complete inventory management and visibility to process all zone related inventory transactions, 06 and 08 entry filing, and end-of-year reporting.  It also offers system tasks throughout the process to ensure the user does not miss customs and border protection or FTZ Board deadlines or submission dates.  In addition to integrating with other systems, it speeds processing with electronic filing of e-214, QP/WP (electronic in-bond transactions), and customs entries through ABI and other documentation and allows the operator to use exceptions—via email alerts and system screen prompts—to automate and simplify the process.

GTKonnect

 

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