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NZ To Hike Petrol Tax

by Mary Swire, Tax-News.com, Hong Kong

18 December 2012


New Zealand's petrol excise duty will be increased in each of the next three years, with any changes after 2016 to be considered on a case-by-case basis.

The tax will rise by NZD0.03 (USD0.03) a litre on July 1, 2013, 2013 and 2015, and road user charges will also see an equivalent increase.

According to Transport Minister Gerry Brownlee, the increases are required to deliver the Roads of National Significance (RoNS) programme and other roading projects.

Amendments to the Customs and Excise Act 1996 and the Road User Charges (Rates) Regulations 2012 will be required to enable the series of increases. New road user charges rates will be published at least six weeks prior to the increase.

Brownlee stressed that the announcement allows businesses and motorists to plan for the increases. Any further future hikes will be considered by the cabinet on a case-by-case basis, he added.

TAGS: tax | business | revenue guidance | excise duty | New Zealand | tax reform

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