|
Getting your Trinity Audio player ready...
|
Customs announces 90-day window for import duty regularisation on vehicles
The Nigeria Customs Service (NCS), acting on the directive of the Honourable Minister of Finance, introduces a 90-day window to facilitate the regularisation of import duties on specific vehicle categories.
According to a statement by Abdullahi Maiwada, NCS PRO, the initiative aims to enhance compliance and simplify import processes. Owners of vehicles with pending customs duties or those detained due to undervaluation can apply through Zonal Coordinators and CAC FCT Command.
However, it’s essential to note that seized and condemned vehicles are not eligible. The valuation will follow the VIN method, and duty payments, accompanied by a 25% penalty, must adhere to import guidelines and procedures.
READ ALSO: Customs implements plan to alleviate food scarcity (Pictures)
Vehicle owners are encouraged to seize this opportunity for compliance within the specified timeframe.
See full statement below:
PRESS RELEASE
APPROVAL OF 90-DAY WINDOW FOR PAYMENT OF IMPORT DUTY ON IMPROPERLY IMPORTED VEHICLES
1. In a proactive move to enhance compliance and streamline import processes, the Nigeria Customs Service (NCS), under the directive of the Honourable Minister of Finance and Coordinating Minister of the Economy, is pleased to announce a 90-day window for regularizing import duties on specific categories of vehicles.
2. This initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
3. While we strive for inclusivity, it is important to clarify that vehicles seized and condemned will not be released under this arrangement and shall be forfeited to the Federal Government in accordance with extant regulations.
4. All vehicle owners, Importers/Agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators (Zones A, B, C, D) and CAC FCT Command. They must submit the necessary available documents and process Vreg in line with the Federal Ministry of Finance directives for the registration of imported motor vehicles.
5. Valuation and assessment of the vehicles will be carried out using the VIN valuation method. Import Duty and a 25% penalty shall be paid in tandem with the import guidelines, procedures, and documentation requirements for used vehicles under the Destination Inspection Scheme in Nigeria (2013) and the Nigeria Customs Service Act 2023. Also, duty payments must be made using the Procedure Code specifically created for this exercise.
6. This initiative reflects our unwavering commitment to facilitating compliance. We encourage all stakeholders to capitalize on this opportunity within the stipulated timeframe.
ABDULLAHI MAIWADA
Chief Superintendent of Customs
National Public Relations Officer
for Comptroller General of Customs
03 March 2024
Follow the Neptune Prime channel on WhatsApp: https://whatsapp.com/channel/0029Va74ZvU2v1IqKByXoX3d
Do you have breaking news, interview request, opinion, suggestion, or want your event covered? Email us at neptuneprime2233@gmail.com
