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No plan to reduce duty on imported vehicles – Customs

The Nigeria Customs Service has said that there are no plans for duty reduction on imported vehicles.

There are speculations that the service has reviewed the tariff on imported used vehicles from 35 to 20 per cent.

According to the news, the duty rate is applicable on Common External Tariff trade portal under HS Code 8703.

However, clearing agents have insisted that the Customs must make an official statement announcing the reduction in duty.

Reacting to this, the National Public Relations Officer of the service, Timi Bomodi, denied the rumour.

 When asked if the service had reviewed the tariffs on imported used vehicles, he said, “NO”.

The image maker said there were plans by the service to review the tariff in the future.

Speaking on the expiration of the 31-day grace period on the Vehicle Identification Number for valuation of imported vehicles, Bomodi said,  “The grace period has not ended, we still have time.”

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