Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

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

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: