|Join Nairaland / LOGIN! / Trending / Recent / New|
Stats: 2,591,326 members, 6,010,355 topics. Date: Monday, 23 November 2020 at 11:19 PM
International Imported Vehicles For Sale... Contact +393510328077 / Contact For Your Customs Duty Verification And Get Feedback Within The Hour. / ⚙ Enjoy 25% Off On Our Comprehensive Vehicle Reports Promo ⚙+234-806-036-5068 (2) (3) (4)
|25% Discount On Customs Duty For Imported Vehicles by dmaygee(m): 10:20am On Nov 19|
According to the 2020 Finance Bill, a 25% discount applies to all vehicles (whatever the type) imported into the country.
Why still sell your vehicles at exorbitant rates, citing duty as excuse?
|Re: 25% Discount On Customs Duty For Imported Vehicles by Trustme2(m): 12:06pm On Nov 19|
Can someone interpret this law properly. Is it adequate enough to get discount for custom duty?
|Re: 25% Discount On Customs Duty For Imported Vehicles by DelTel(m): 7:56pm On Nov 19|
A Bill is different from an Act.
Whilst a Bill is a proposal; an Act is a law. Therefore the Finance Bill is not a law hence not enforceable, until it is passed by the National Assembly and then assented to by the President. In essence, no 25% discount on imported vehicle yet.
It is not a law yet. Furthermore, I doubt if it will bring any changes to customs duty on Tokunbo vehicles as 99% of vehicles have over the years been accessed based on shortpayment.
Likewise, the customs has a humongous target to meet set by the same FG.
Let's wait for clarity on the proposed Bill and most importantly, implementation by customs.
PS: after careful perusal of the Bill by the Fed. Min. of Finance, it is clear the proposed reduction will be on tractors, buses for passengers and goods (not saloon cars, SUV for pleasure). For better clarity, only the automobiles not placed on 15 years age limit of importation of vehicles will enjoy the discount.
|Re: 25% Discount On Customs Duty For Imported Vehicles by dmaygee(m): 5:48pm On Nov 22|
Trustme2:It's a bill before the Senate. And after senate confirmation and Presidential approval, it becomes binding.
|Re: 25% Discount On Customs Duty For Imported Vehicles by dmaygee(m): 5:53pm On Nov 22|
DelTel:The first submission (being a bill) is correct. But the second one you mentioned is incorrect.
Reading the full draft, the suggestion originated from the Nigerian Customs because they are losing a huge chunk of revenue to smuggling. They want to discourage shipping to Cotonou, and smuggle to Nigeria.
Secondly, also from the bill, transportation is the bedrock of any nation. All vehicles used in transportation of persons will benefit from it when passed into law.
|Re: 25% Discount On Customs Duty For Imported Vehicles by Ofemmanu1: 6:01pm On Nov 22|
Hi, are you saying customs cannot catch a 15yrs old vehicle?
pls write back.
|Re: 25% Discount On Customs Duty For Imported Vehicles by DelTel(m): 9:05pm On Nov 22|
I await to see the draft, as I seriously doubt it.
Anywyz, it is Nigeria with policy summersault or miscommunication. Are you aware Customs gets a percentage of revenue and automatically would want to generate more. Also land border has been closed for close to a year now hence no fear of Cotonou port, most importantly, customs and govt can effectively man the border to generate revenue but they chose to leave it to be porous to get more for themselves.
Your last statement is just like what is in the bill, no clarity.
|Re: 25% Discount On Customs Duty For Imported Vehicles by DelTel(m): 9:11pm On Nov 22|
Customs can seize any pleasure car - SUV and saloon cars - more than 15yrs old manufacturing date from entering into Nigeria.
However, they graciously allow it go as (more) tip is collected to issue Assessment Form for it, reason agents charge more for such vehicles (1999/2000/2001/2002/2003 vehicles pay more than 2005 vehicles for instance).
The customs e-platform does not have rate table for it hence they write next available year allowable to make it scale thru .
|Re: 25% Discount On Customs Duty For Imported Vehicles by Ofemmanu1: 7:48am|
DelTel:Thanks for your detailed response sir.
Meanwhile in my case; the car has duty but "was lost in a fire accident" that was the account of the previous owner who happens to be a church member.
I've never encountered customs since 18months now, I see em on the roads but thot they ain't interested in my old vehicle.
I'm just being cautious and trying to know how to deal with em if they stop me one day.
However, I've contacted many agents to get a reprint of customs papers with Chassis number lookup but its always futile.
Is there any way around it pls?
My car is a Honda Accord 2006 model.
|Re: 25% Discount On Customs Duty For Imported Vehicles by DelTel(m): 8:25am|
The search is 99% impossible especially after few years (customs only input last 6 digits of vin/chassis number and countless vehicles can have the same).
I would advise you keep the vehicle 'old', as in not-too-flashy , so no customs will look your side o.
2006 vehicle is not old in Naija, older vehicles as far back as 1998 are still coming in as Toks in large numbers, and of cos harassed by customs.
Good luck chief.
|Re: 25% Discount On Customs Duty For Imported Vehicles by Ofemmanu1: 11:21am|
Thanks again for the honest feedback, I like my car flashy tho, I've got some tire lights and flashy stickers on it.
Pity I have to shelve the plans for LED headlights, JBL sound system and top class body kits pending the time I'll pass it on.
buh for now I love the car, it's like a " Lamborghini Aventador"
I'ma hold on to it, may i drive never to jam customs palava.
Meanwhile, what's the worst case scenario if I meet em customs?
A friend told me to get a police report/court affidavit as cover should incase.
|Re: 25% Discount On Customs Duty For Imported Vehicles by DelTel(m): 12:33pm|
Worst scenario is to feign ignorance of it not available in the vehicle (search and search for it and say madam must have taken it out ).
But really, don't let it get to that, always have cash on you to give them if (I doubt) they ever stop you - street wisdom - no amount is too small, alternatively a friendly banter would often suffice.
Lastly, I hope you or the last owner did not thrash the old documents like proof of ownership, vehicle license etc, keep those photocopies in the car .
|Re: 25% Discount On Customs Duty For Imported Vehicles by Ofemmanu1: 3:21pm|
You really made my day!
All other docs: C of O, Particulars, registration, insurance, road worthiness, licences etc are intact i've got a tinted permit too.
|Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health |
religion celebs tv-movies music-radio literature webmasters programming techmarket
Nairaland - Copyright © 2005 - 2020 Oluwaseun Osewa. All rights reserved. See How To Advertise. 105