Excise regulations better for alcohol producers
Customs Minister Nicky Wagner says new regulations that take effect on 1 February 2017 will streamline the collection of excise and reduce costs for businesses.
“Alcohol manufacturers have told us the current remissions process creates unnecessary administration costs. After working closely with industry representatives, we are introducing practical improvements that will save alcohol manufacturers time and money,” Ms Wagner says.
“Improvements to the processes and requirements for offsite storage, remissions, and payment periods will reduce costs and barriers for businesses.
“Offsite storage is being extended to all alcohol manufacturers, which currently only happens with wine. This is great news, particularly for the growing craft beer industry, many of whom have small storage capacities.
“Most businesses have modern data collection systems that can be used in conjunction with Customs auditing so there is no longer a need for additional bureaucracy to ensure compliance.
“Some of the changes will improve assurance over the excise regime. Customs is also looking to introduce electronic excise entries from mid-2017,” Ms Wagner says.