Contrary to speculations, there is no plan to increase duty on imported cars, the Nigeria Customs Service has said.
The National Public Relations Officer of the service, Timi Bomodi, told The PUNCH that the service had not reviewed the tariffs on imported used vehicles.
But clearing agents have insisted that the Customs must make an official statement announcing the reduction in duty.
Speculations have been rife very recently 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.
Boarding 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.”
