A partner from a major accounting firm says that exporters, importers, and trade businesses need to voice their opinion on new legislation being created by The New Zealand Customs Service.
It recently undertook a major review of the Customs and Excise Act with the intention of creating a new piece of legislation that will be less prescriptive and more business friendly.
Following this, a discussion paper has been released this afternoon with a two month public consultation window.
“We’re encouraging businesses to consider the rewrite’s impact on them – particularly for exporters, importers, Customs brokers and businesses changing their supply chains,” says Price Waterhouse Coopers (PwC) parter Eugen Trombitas.
“Customs legislation has not kept pace with the digitalisation and globalisation of trade, and a lot has changed since the last rewrite in 1996.
“Increased trade volumes, more complex supply chains, a greater number of Free Trade Agreements have all contributed to the need for efficiency, reduced trade barriers and lower costs.
This is the opportunity for businesses to have their say and help achieve a Customs framework that promotes operational efficiency, supports the competitiveness of NZ businesses and helps create economic value for New Zealand,” he says.
“From a New Zealand Inc perspective, we welcome the rewrite as New Zealand needs modern and progressive Customs legislation that is practical and agile in terms of meeting business and trade needs.”
The rewrite is specifically not covering the collection of GST and duty on low value imported goods. A new Act could be enacted as early as 2016.
