The Nigeria Customs Service has finally announced the suspension of the implementation of the Vehicle Identification Number valuation policy recently introduced on imported used cars.
According to a circular dated March 7, 2022, titled, ‘Approval Of Grace Period, To Clear Backlog Of Vehicles’, the said suspension is set to begin Tuesday, March 8, 2022.
Under this policy, importers would be able to auto-generate tariffs on imported cars — a move which had led to weeks of demonstration and the shutdown of port activities by licensed Customs Agents.
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However, the communique says it has approved one month window of opportunity to enable the clearing agents to clear the backlog of vehicles held up in the port due to the strike action.
The statement also instructs importers to ensure a uniform application of rebates for all vehicles using the correct values for their assessments.
“The VIN-valuation protocol is still in operation as reviews and updates are being captured in our system to reflect these adjustments,” it reads.
The circular also directs the affected area controllers to monitor the transition period, whilst ensuring manual assessments are in compliance with extant laws of the land within the one-month grace period, with effect from Tuesday 8 to 22 March 2022.
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