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RAPAPORT... The greater Miami, Florida Foreign-Trade Zone Inc. submitted its supporting documentation on behalf of Almod Diamonds Ltd., which operates a facility within site No. 1 of Foreign-Trade Zone 32. Almod Diamonds' facility is used for the production, restoration and repair of jewelry comprised of precious metals and gemstones. Pursuant to federal code, Foreign-Trade Zone status is limited to specific materials and components and finished products used for exporting under which Almond Diamonds would be exempt from customs duty, such as jewelry of base metals (silver, gold, platinum and palladium) or precious and semi-precious stones, other cut precious stones, pearls and imitation jewelry. Duty rates range from near 0 percent to 13.5 percent, according to the filing.
On domestic sales, Almod Diamonds would be able to choose the duty rates during customs entry procedures that apply to jewelry, precious metals, gemstones, pearls and related scrap for the foreign status input. Customs duties also could possibly be deferred or reduced on foreign status production equipment, according to the filing. The public is invited to comment on the request by writing to the Foreign-Trade Zone board's ''Executive Secretary Elizabeth Whiteman,'' Room 21013, U.S. Department of Commerce, 1401 Constitution Avenue NW, Washington, D.C. 20230-0002, by August 14.
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