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Settlement for outstanding duty reached
Settlement for outstanding duty reached
The New Zealand Customs Service and Terminals (N.Z.) Limited have reached an agreement over the payment of additional duty on butane blended petrol.
The settlement follows the Supreme Court ruling last year that the process of blending butane with petrol constitutes ‘manufacture’ for the purposes of the Customs and Excise Act and is subject to duty.
Group Manager Legal Services, Peter Taylor, said Customs and Terminals have reached a confidential agreement for the payment of additional duty on the extra amount of motor spirit created by adding butane.
“We are pleased that all matters between Customs and Terminals have now been resolved.”
Dave Bodger, General Manager for Terminals, stated “This settlement closes a door on a long process and we are very pleased to be resuming our previously positive working relationship with Customs.”
ENDS
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