Duty Free Zone Definition
Define Duty Free Zone In Simple Terms
A duty-free shop is a retail store whose goods are not taxed by local or national entities, so long as the goods sold by these stores will be taking the goods out of the country.
What Does Duty Free Zone Mean In Finance?
Stores categorized as “duty-free” are typically in a duty-free jurisdiction, known as a “duty-free zone.”
Duty Free Zone Example
Locations which facilitate travel, such as international airports and seaports, are commonly categorized as duty-free zones due to travelers commonly leaving the country shortly after making a purchase.