The Federal Government on Friday announced the suspension of the 25 per cent penalty imposed on vehicles “improperly imported” into the country.
Nigeria Customs Service (NCS) spokesman, Abdullahi Maiwada, who disclosed this in a statement, said the suspension of the penalty was approved by the Minster of Finance, Wale Edun, to cushion the present economic hardship in the country and encourage compliance by the owners of affected vehicles.
He said the service has also been directed by the Minster, who is also the chairman of
The NCS Board, to give a 90-day window, effective from March 4, 2024, to July 5, 2024, for the regularisation of import duties on specific categories of vehicles.
“The Nigeria Customs Service, under the directives of the Honourable Minister of Finance and Coordinating Minister of the Economy, has initiated a 90-day window, effective from 4th March 2024 to 5th July 2024, for the regularisation of import duties on specific categories of vehicles.
“To ease economic hardship and encourage compliance, the Honourable Minister and Coordinating Minister of the Economy has approved the suspension of the 25 percent penalty previously imposed in addition to import duty on improperly imported vehicles,” he said.
He charged affected vehicle owners, importers and agents to seize the opportunity to regularise import duty payments within the designated 90-day timeframe.
On March 3, the NCS announced a 90-day window for the regularisation of import duties on specific categories of vehicles.
The service said an import duty and a 25 per cent penalty would be paid in line with import guidelines, procedures, and documentation requirements for used vehicles under the destination inspection scheme in Nigeria (2013) and the NCS Act 2023.
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