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The excise and excise-equivalent duty on motor spirits will increase to 56.524 cents per litre from 53.524 cents from 1 July 2014. The Customs and Excise (Budget Measures – Motor Spirits) Amendment Act 2013 provides for this increase in 2014 and a further increase of three cents per litre in 2015.
Under section 106 of the Customs and Excise Act 1996, all motor spirits that attract excise or excise-equivalent duty removed from a licensed manufacturing area, export warehouse, or imported after midnight on 30 June 2014 will be subject to the new rate. Revenue from the excise on motor spirits goes to the National Land Transport Fund. More information is available from the Ministry of Transport. |
