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The Nigeria Customs Service (NCS) has suspended the 25% penalty that had beforehand been imposed along with import obligation on improperly imported automobiles.
This disclosure is contained in an announcement signed by the Nationwide Public Relations Officer of NCS, Abdullahi Maiwada, on Friday, March 22, 2024, who mentioned the motion relies on the directive of the Minister of Finance and Coordinating Minister of the Economic system, Wale Edun.
The Minister had earlier initiated a 90-day window, efficient from 4th March 2024 to fifth July 2024, for the regularisation of import duties on particular classes of automobiles.
Maiwada mentioned the initiative is to ease the hardship and encourage compliance, urging stakeholders like automobile homeowners, importers in addition to brokers to utilize the chance.
What the Nigeria Customs Service is saying
The assertion from Maiwada partly reads,
- “The Nigeria Customs Service, beneath the directives of the Honourable Minister of Finance and Coordinating Minister of the Economic system, has initiated a 90-day window, efficient from 4th March 2024 to fifth July 2024, for the regularisation of import duties on particular classes of automobiles.
- “To ease financial hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economic system has authorised the suspension of the 25 per cent penalty beforehand imposed along with import obligation on improperly imported automobiles.
- “Stakeholders, together with automobile homeowners, importers, and brokers, are inspired to grab this chance to regularise import obligation funds throughout the designated 90-day timeframe.’’
In case you missed it
- Recall that on March 3, the NCS beneath the directions of the Finance Minister, Wale Edun, declared a 3-month interval for the regularization of import duties for sure automobile classes improperly imported into the nation.
- The NCS spokesperson, Abdullahi Maiwada, mentioned the measure is focused particularly at automobiles introduced into Nigeria with out the right customs duties paid or these impounded for being undervalued.
- The service mentioned this initiative applies solely to automobiles imported into Nigeria the place the requisite customs obligation has not been fulfilled or automobiles detained because of undervaluation.
- Whereas saying the event, the service mentioned an import obligation and a 25% penalty shall be paid in tandem with the import tips, procedures, and documentation necessities for used automobiles beneath the Vacation spot Inspection Scheme in Nigeria (2013) and the NCS Act 2023.
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