TaxBlog

Customs collected a record $8.4 billion in the past year, its annual report shows.

The border-control agency was also more active in other areas, stopping several large drug shipments and making almost 2000 investigations into suspected offending – 60 per cent more than usual.

The report, issued yesterday, said revenue in the year to June exceeded Treasury forecasts, and was $664 million higher than the year before.

The bulk of the money – about $5 billion – came from GST on imported goods.

Excise tax contributed $2.23 billion. Of that, tax on fuel contributed $884 million, tobacco tax $834 million and alcohol tax $516 million.

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Scoop announces a review on LPG tax:

The Ministry of Transport and Land Transport New Zealand are reviewing the refunds of fuel excise duty being claimed for liquid petroleum gas (LPG).

LPG, used in exempt vehicles, vehicles licensed for Road User Charges and those using LPG for commercial purposes is eligible for refunds of the FED.

Dr. Robin Dunlop, Secretary for Transport, said today that early indications from a review on LPG refunds show that there may be some anomalies in procedures.

Dr. Dunlop said the Ministry has engaged PricewaterhouseCoopers (PWC) to undertake a review of LPG procedures and that, as a result of work done to date, some changes may need to be made in the future.

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