THE New Zealand Government has announced its annual adjustment to the excise and excise-equivalent duty on alcohol products, with the new rates coming into effect at the end of next month.
The new excise duty rates are payable on all alcohol products imported or removed from customs controlled areas after midnight on 30 June.
The new rates are:
Current rate (GST excl) New rate from 1 July 2008 (GST excl)
35.898 cents per litre 37.142 cents per litre
$23.936 per litre of alcohol $24.765 per litre of alcohol
$1.9148 per litre $1.9811 per litre
$2.3936 per litre $2.4765 per litre
$43.594 per litre of alcohol $45.105 per litre of alcohol
Section 79A of the Customs and Excise Act enables excise and excise-equivalent duty on alcohol products to be annually adjusted. The annual adjustment is based on movements in the Consumers Price Index All Groups excluding credit services for the 12 months to 31 March.