New Zealand: Changes to customs law to proceed

New Zealand: Changes to customs law to proceed

New Zealand’s Minister of Customs confirmed that a number of “business friendly” customs-related changes are to proceed to the legislative stage. The changes were consulted on last year. There will be further opportunities for businesses to provide feedback once draft legislation is introduced later this year.

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Among the proposals expected to be included in the draft legislation are measures that would: 

  • Allow New Zealand customs authority to issue binding valuation rulings 
  • Provide for a new “additional duty” regime that would aim at encouraging greater voluntary compliance 
  • Provide a new internal review and appeal process for resolution of disputes with NZ Customs, without having to go direct to the Customs Appeal Authority 
  • Allow importers to declare a provisional value for imports when the final value of the imported goods is not known (e.g., when the price of the goods may change due to transfer pricing adjustments) 
  • Reduce the maximum penalty for certain administrative noncompliance
  • Provide specific rules to protect sensitive personal and commercial information when NZ Customs shares information with other agencies 
  • Allow customs records to be stored offshore, or in the “cloud” 
  • Allow all New Zealand alcohol producers (not just wine producers) to store product offsite so that excise is only paid when the product is removed from the offsite storage facility
  • Require import entries to be filed before goods arrive into New Zealand 

 

Read a May 2016 report [PDF 454 KB] prepared by the KPMG member firm in New Zealand: Customs Act changes

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