\n
The Nigeria Customs Service (NCS), under the directive of the Minister of Finance and Coordinating Minister of the Economy, has announced a 90-day window for regularizing import duties on specific categories of vehicles.<\/p>\n
The window is meant to streamline import processes.<\/p>\n
A statement by the National Public Relations Officer of the Nigeria Customs Service, Chief Superintendent of Customs Abdullahi Maiwada, on Sunday, said, \u201cThis initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.<\/p>\n
\u201cWhile 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.\u201d<\/p>\n
He added that all vehicle owners, and 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, saying that 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.<\/p>\n
The statement explained that valuation and assessment of the vehicles would be carried out using the VIN valuation method, with import Duty and a 25 per cent 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.<\/p>\n
It added that duty payments must be made using the Procedure Code specifically created for this exercise.<\/p>\n
\u201cThis initiative reflects our unwavering commitment to facilitating compliance. We encourage all stakeholders to capitalize on this opportunity within the stipulated timeframe,\u201d the statement explained.<\/p>\n
Customs sets 90-day window for duty payment on improperly imported vehicles<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"
The Nigeria Customs Service (NCS), under the directive of the Minister of Finance and Coordinating Minister of the Economy, has…<\/p>\n","protected":false},"author":1,"featured_media":20154,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[642,15],"tags":[644,180],"class_list":["post-20153","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-customs","category-news","tag-customs","tag-news"],"yoast_head":"\n
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