…The Nigeria Customs noted 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.
MON, MAR 04 2024-theGBJournal| The Nigeria Customs Service (NCS) on Sunday, announced a 90-day window for regularizing import duties on specific categories of vehicles, a proactive move by the Service to enhance compliance and streamline import processes.
The directive given by the Minister of Finance and Coordinating Minister of the Economy, applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.
The Customs said 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.
It added that 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.
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.”
The Nigeria Customs noted 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.
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