Following a directive from the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, the Nigeria Customs Service, NCS has announced a 90-day window for Importers of improperly imported vehicles to regularize import duties on them.
The Service, in a statement issued by its National Public Relations Officer, CSC Abdullahi Maiwada in Abuja on Sunday, informed that the move was made pursuant to enhancing compliance and streamline import processes.
According to the statement, this initiative applied solely to vehicles imported into Nigeria where the requisite customs duty had not been fulfilled or vehicles detained due to undervaluation.
Noting that the NCS strived for inclusivity, it further clarified that vehicles seized and condemned (by the court) would not be released under this arrangement and shall be forfeited to the Federal Government in accordance with extant regulations.
“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 the 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.
“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.
“This initiative reflects our unwavering commitment to facilitating compliance. We encourage all stakeholders to capitalize on this opportunity within the stipulated timeframe”, the statement said.
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