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HomeBusinessNigeria customs dispel rumour over reduction in import tariff for vehicles

Nigeria customs dispel rumour over reduction in import tariff for vehicles

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The Nigeria Customs Service (NCS) has said that it has no plans to slash duty on imported vehicles into the country.

This pronouncement came against the backdrop of speculations in the industry that the service has reviewed the tariff on imported used vehicles from 35 to 20 per cent.

It was alleged that 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 on duty.

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National Public Relations Officer of the service, Timi Bomodi said the speculation over the reduction in tariff on vehicle imports was speculative and not true.

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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