Alterations to the payment procedures for wine excise announced by Minister of Economic Development David Carter and Minister of Customs Maurice Williamson will be warmly welcomed by affected wineries according to the wine industry organisation New Zealand Winegrowers.

The changes mean around half of New Zealand’s 700 wineries will have a longer time to make excise  payments to government as returns will now be able to made either six monthly or yearly, instead of monthly.

“This simple regulatory change will have a significant cash-flow benefit for affected wineries as it will better align excise payment timelines with their income flows. The decision represents sound business and regulatory commonsense,” said Philip Gregan, New Zealand Winegrowers’ CEO.

“We are delighted Ministers and officials have responded so positively to our representations on this issue. These changes represent a significant step forward in our long term agenda of easing the compliance costs associated with payment of excise by all wineries in New Zealand.”