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| | | Compensatory interest rate reduced | | | The compensatory interest rate has reduced to 3.29%, effective from 1 July 2025.
Compensatory interest is charged to compensate the Crown for loss of use of money when duty is not paid in full and on time.
Compensatory interest is defined by formulas set in regulations, which are based on market interest rates.
The main rate aligns with that used by Inland Revenue. The reduced rate is based on the last 90 day bank bill rate published on the Reserve Bank website before 1 July. You may be eligible for the reduced rate if you voluntarily disclose an error and can demonstrate that it was inadvertent. | | | | | | | | | | 
| | | Update on excise duty and levy rates for alcohol from 1 July 2025 | | | The annual adjustment to the excise and excise-equivalent duty rates and levy rates on alcoholic beverages took place on 1 July 2025. Visit the Customs website to view updated information about how to use the figures published previously and details for the Pae Ora levy. | | | | | | | | | | 
| | | Russia Sanctions Reminder: Sanctioned entities / individuals / "luxury goods" import and export ban | | | Information on Russian Sanctions for importers and exporters. | | | | | | | | | | 
| | | Explore new markets through Free Trade Agreements | | | Exploring new markets? Join Export NZ for a briefing on New Zealand's evolving trade opportunities with a focus on two significant partnerships.
At these events, you will engage with high-level New Zealand government officials, and hear from representatives of the UAE and ASEAN region. Learn about the soon-to-come-into-force New Zealand – United Arab Emirates Free Trade Agreement and the recently upgraded AANZFTA (Australia, ASEAN, New Zealand Free Trade Area) Agreement.
To learn more and register, visit Export NZ's website. | | | | | | | | | | 
| | | Customs seizes 150 kilograms of cocaine in Tauranga | | | Customs officers based at the Port of Tauranga have seized an estimated 150 kilograms of cocaine, worth up to NZ$58.2 million from a shipping container destined for New Zealand.
The container, which arrived from Kingston, Jamaica, was risk-assessed by Customs officers as part of standard procedures for all incoming cargo, people, and vessels. This led to the discovery of six duffel bags packed with bricks of cocaine.
In the last financial year, Customs officers in Tauranga have intercepted 788 kilograms of cocaine, including this latest intercept, worth a combined estimated street value of NZ$305.744 million. | | | | | | | | | | 
| | | Give the digital New Zealand Traveller Declaration a go these school holidays | | | With the start of the winter school holidays, Customs is urging all arriving travellers to use the digital New Zealand Traveller Declaration instead of the paper version available on flights.
Customs Manager New Zealand Traveller Declaration, Holly Stringer, says more than five million travellers have submitted a digital declaration since the option became available, and now's a chance for more Kiwis to get onboard.
"Whether it's Kiwis heading off in search of warmer climates, or those living overseas marking their course to our ski fields, our digital declaration is a must-do attraction for New Zealand." | | | | | | | | | | 
| | | MFAT Market Intelligence Reports | | | The latest edition of the weekly global trade and economic update for New Zealand businesses has been published. | | | | | | | | |