FG suspends 25% penalty on improperly imported vehicles

The Nigeria Customs Service said it was directed by the Minister of Economy and Coordinating Minister of Finance, Mr Wale Edun, to suspend the 25 per cent penalty on improperly imported vehicles.

The service’s National Public Relations Officer of the service, Abdullahi Maiwada, announced this in a statement on Friday.

PUNCH Online reports that the Federal Government recently announced a 90-day window to regularise import duties on specific categories of vehicles.

The service, while announcing the development, said an import duty and a 25 per cent 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 NCS Act 2023.

However, giving an update on the development, Maiwada added that the service has also been directed to be initiated within three months, a window for the regularisation of import duties on specific categories of vehicles.

Related News

The statement read in parts, “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 per cent penalty previously imposed in addition to import duty on improperly imported vehicles.”

The NCS spokesperson urged stakeholders to make use of the opportunity.

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

Kindly give us two minute from your time to follow our social handles... Click on social media logo below to follow...Thanks

About Zacnetwork

Zacnetwork
I'm Zaccheaus Adeyemi Ogunwale by name, a computer scientist with multimedia art/lens skills. A CEO of Zacnetwork/Naijatrackz subcidiary of Zac Media House. Zacnetwork ✅ A computer scientist that specialize in blogging, Promotion and Distribution of songs, both in Locals and internation Digital Music Platforms, Also to the Top Website, Instagram, Twitter PR, Broadcasting Audiomark Promotion. NaijaTrackz/Gospelnoise ✅ Specialised in Entertainment platform that provide a unique latest news of celebrities, download of latest musics. Finally, I'm CEO of Zacnetwork.org for 3years,now, expands to naijatrackz.com.ng or gospelnoise.com

Check Also

Tinubu sacks Arase, appoints Argungu new police service commission chairman

0share Facebook0 Twitter0 LinkedIn0 Reddit0 Email0 President Bola Tinubu has appointed a retired Deputy Inspector-General …

Leave a Reply

Share via
Send this to a friend