The fuel industry is regulated through licensing and permission regimes.
A small number of businesses contribute the majority of fuel excise revenue. We support our larger clients with client managers who provide help and assurance for compliance obligations.
In the current environment, our key focus is on compliance with:
- timely lodgment
- correct reporting
- payment.
Our client managers monitor the highest payers so they understand their obligations and can engage and assist where necessary.
We work with new entities entering the fuel market to ensure their controls and systems are appropriate. Our 'New to Excise' program assists them to understand and meet obligations.
Some factors increase the likelihood of errors being made, including:
- biannual indexation on all fuels (except aviation fuel)
- policy changes
- environmental factors such as COVID-19 and natural disasters
- changes in technology, personnel and IT systems
We have early engagement strategies in place to detect and monitor impacts of these potential errors on obligations.
We focus our activities on early identification of compliance issues. Our recent activities have not identified any new issues or areas for concern.