Customs Approves Three Months Window For Payment Of Import Duty

Customs Approves Three Months Window For Payment Of Import Duty

The Nigeria Customs Service (NCS) has announced the approval of a 90-day window for regularizing import duties on specific categories of vehicles.

Customs National Public Relations Officer, ABDULLAHI MAIWADA, noted in a statement that the approval followed the directive of the Honourable Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as part of efforts to enhance compliance and streamline import processes.

He explained that the initiative applies solely to vehicles imported into Nigeria where the requisite customs duty has not been fulfilled or vehicles detained due to undervaluation.

The statement clarified that, while the NCS strives for inclusivity, vehicles seized and condemned will not be released under this arrangement and shall be forfeited to the Federal Government in accordance with existing regulations.

The communique reads in part, “All vehicle owners, importers, and agents seeking to regularize import duties on their vehicles are required to apply to the Zonal Coordinators (Zones A, B, C, and D) and 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.”.

The Customs PRO reiterated that the move is in line with the service’s unwavering commitment to facilitating compliance, as he encouraged all stakeholders to capitalize on the opportunity within the stipulated timeframe.