April 16, 2024

Maritime Today Online

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Customs suspends 25% penalty on improperly imported vehicles

Customs adopts SOP for implementation of advance ruling

The Nigeria Customs has announced the suspension of a 25% penalty previously imposed on improperly imported vehicles, in addition to import duties.

The NCS in a statement by its spokesman, Abdulahi Maiwada, said the approval was granted by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, in a move aimed at easing economic hardship and promoting compliance.

Abdulahi said the NCS under the directive of the Minister has initiatived a 90-day window for vehicle owners to regularize import duties on specific categories of vehicles effective from March 4th, 2024, to July 5th, 2024.

The statement reads, “The Nigeria Customs Service (NCS), 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 have approved the suspension of the 25% penalty previously imposed in addition to import duty on improperly imported vehicles.

“Stakeholders, including vehicle owners, importers, and agents, are encouraged to seize this opportunity to regularise import duty payments within the designated 90-day timeframe.”




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