Import Duty Proposal Halt - Autos - Nairaland
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Import Duty Through Cotonou / New Import Duty / Car Import Duty & Clearing (2) (3) (4)
| Import Duty Proposal Halt by proftaiwo: 12:34pm On Dec 23, 2013 |
The House of Representatives on Wednesday urged the Federal Ministry of Finance to suspend the planned increase of import duty on used and new vehicles. The resolution emanated from a motion moved by Rep. Nathaniel Agunbiade (APC-Osun), which was adopted without debate. According to Agunbiade, the planned 70 per cent tariff will have a multiplier effect of 250 per cent increase on the value of the affected items, adding that it will definitely lead to higher prices of vehicles. He noted that although Jan. 2014 had been set for the commencement of the policy, none of the assembly plants the policy sought to protect would have started production in the country. The legislator stressed that care must be taken not to bring too much pain on Nigerians, adding that the policy might encourage smuggling through the land borders. The Federal Government, on Nov. 25, announced the planned increase of the import duty on used and new vehicles from the current 20 per cent to 70 per cent. It could be recalled that the Minister of Finance, Dr Ngozi Okonjo-Iweala, recently directed that imported, fully-built unit (FBU) of cars shall now attract 35 percent duty and 35 percent levy, totaling 70 percent charges for both new and fairly-used vehicles. http://www.dailytimes.com.ng/article/reps-urge-fg-suspend-new-tariff-used-vehicles |
| Re: Import Duty Proposal Halt by clino: 3:19pm On Dec 23, 2013 |
Nice.... |
| Re: Import Duty Proposal Halt by deshclones(m): 6:12pm On Dec 23, 2013 |
phew....wow...this is good news...pls gej should soft pedal on this import duty increase abeg |
| Re: Import Duty Proposal Halt by redcliff: 7:21pm On Dec 23, 2013 |
deshclones: phew....wow...this is good news...pls gej should soft pedal on this import duty increase abeg when YOU put a retard/mediocre who does not know what he doing in the highest helm of affairs in a country, 1+2 is like rocket science to such an individual |
| Re: Import Duty Proposal Halt by deshclones(m): 8:48pm On Dec 23, 2013 |
redcliff: and you are ruled by a slow poke in spite of ur supposed famed intelligence and brilliance .you are an 1diot...you are indeed very insipid and outright s1lly for making this baseless statement...ridiculing someone your 7th generation combined can never equal..idiot |
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