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| | | Clarification on interest rate update: Compensatory interest rate remains at 9.89%, reduced rate at 3.29% | | | Last week on 4 July 2025, the Customs Release Issue 796 reported an updated 'compensatory interest rate' but did not specify that only the reduced rate has been updated.
To confirm, the compensatory interest rate (normal rate) has not changed and remains at 9.89% as updated on 8 May 2025.
The reduced rate was updated from 1 July 2025 to 3.29%. The reduced rate may apply instead of the normal compensatory interest rate if you voluntarily disclose an error and can demonstrate that it was inadvertent.
The compensatory interest rate (normal rate) is based on Inland Revenue's use of money interest underpayment rate whereas the reduced rate is based on the 90-day bank bill rate.
For more information please see the Customs' website. | | | | | | | | | | 
| | | New items covered by the Heavy Engineering Research Levy | | | New Tariff items now attract the Heavy Engineering Research Levy in accordance with the Regulatory Systems (Economic Development) Amendment Act 2025. This legislation has made changes to the Heavy Engineering Research Levy Act 1978.
A further adjustment is required for Customs to collect the levy on two new Tariff items as a result of an unrelated international agreement, which amended the Tariff from 1 July 2025. Further notice of that adjustment will be made in due course. | | | | | | | | | | 
| | | Updated guidance on selling temporarily imported small craft | | | Customs has recently updated its guidance on selling temporarily imported small craft in New Zealand.
The guidance has been updated to ensure full awareness of the New Zealand legislation covering sales of temporarily imported small craft and to ensure any sales are made in compliance with the legislation.
The guidance covers the process for getting permission to sell, criteria for sale, and refund of security deposit.
This change only affects people wanting to sell craft that are in New Zealand under a temporary import entry (TIE). Craft visiting New Zealand for tourism purposes or refits and refurbishments are not impacted by the updated guidelines. | | | | | | | | | | 
| | | Update on excise duty and levy rates for alcohol | | | 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. | | | | | | | | | | 
| | | 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. | | | | | | | | | | 
| | | Welcoming closer ties with Singapore | | | Customs hosted a week-long visit by a group of senior officials from Singapore's Immigration & Checkpoints Authority (ICA).
Led by Deputy Commissioner (Operations) Mr. Hsu Sin Yun, the delegation's visit to New Zealand (7-11 July 2025) was centred on the use of technology to enhance border security, with a focus on fast freight and cargo-related operations.
Customs' Deputy Chief Executive International and Governance Joe Cannon said ICA's visit will further strengthen New Zealand's cooperative relationship with Singapore, which is a world-leader in the use of digital technology at the border. | | | | | | | | | | 
| | | GBL, 1,4-B, cannabis and BZP uncovered in joint operation | | | Litres of Fantasy or GBL, pills and other illegal substances ordered through international online sources and imported into New Zealand to be sold in the local Waikato market have been uncovered in a joint operation by Waikato Organised Crime Squad and Customs.
Earlier this year, staff at Police and Customs identified a spike in the importation of GBL and 1,4-B (a drug similar to GBL), and an investigation was launched.
On Tuesday 1 July 2025, the Waikato Organised Crime Squad, with assistance from Customs, the Armed Offenders Squad, and other Waikato Police staff executed warrants at two residential addresses and two storage facilities.
A total of 4L of 1,4-B, 129 cannabis plants, 1kg of dried cannabis, 100 BZP pills, and ammunition were located across the properties. This follows a previous seizure of 30L of GBL at the border. | | | | | | | | | | 
| | | Give the digital New Zealand Traveller Declaration a go these school holidays | | | During 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. | | | | | | | | |