SPECIAL SALES TAX IMPOSED

Taranaki Daily News, 14 September 1934, Page 4

SPECIAL SALES TAX IMPOSED

GOODS LIABLE TO EXCISE DUTY.

AMENDMENT TO CUSTOMS BILL.

(By Wire.—Parliamentary Reporter). Wellington, Last Night.

The imposition of a special sales tax on goods liable to excise duty and sold at “in bond” prices is provided for under an amendment to the Customs Act Amendment Bill introduced into the House of Representatives to-day. According to this provision sales tax, in addition to the ordinary impost payable, will have to be paid at the time of entry for home consumption on any goods manufactured in New Zealand of a class liable to excise duty and to sales tax, which are sold otherwise than to a licensed wholesaler for resale by him at a price that does not include excise duty. Additional sales tax will be paid by the person entering the goods and the sale value on which the tax is assessed is to be deemed to be the amount of excise duty paid. Under another amendment special provisions are made for the computation of sales tax in respect to imported cigars, snuff, cut tobacco, other tobacco and spirits. The sale value is to be the sum of the equivalent in New Zealand currency of the value of those goods for Customs duty and the amount of the duty, together with 25 per cent, of the former amount. Power is given the Minister of Customs to include other items by gazette notice or by similar means and to exclude any of those mentioned.