Example of how to calculate the Import Duty of your vehicle, let’s say Toyota Highlander 2015.
SOLUTION:

Based on the e-Valuation system, the CIF Value of a used Toyota Highlander 2015 is usually around $9,327. Please NOTE that you have to complete your vehicle's VREG through your preferred clearing agent before the Trade Portal can pull out the duty payable for your vehicle, the value given to a similar vehicle can also be used to determine yours. Also NOTE that any agency you used for the VREG will have to be the same agency that will punch and assess the work for duty payment.

The exchange rate the Nigerian Custom Service (NCS) uses at the moment is N422.3 and The Rate of Duty for Vehicles is currently 20% of CIF Value.

So let’s convert the CIF Value to Naira: $9,327 X 422.3 = N3,938,792.1

Let’s get the 20% of N3,938,792.1 Which is N3,938,792.1 X 0.20 = N787,758.42

Now N787,758.42 is your Import duty which is called the surface value. This surface value is no longer negotiable since the introduction of the e-Valuation, whatever you get is what you pay. After the surface value is known, the next is to add these other charges to get the total amount you will pay as Custom duty.

LEVY is 15% of CIF (N3,938,792.1 X 0.15) = N590,818.81

SUR is 7% of Surface Value (N787,758.42 X 0.07) = N55,143.08

ETL is 0.5% of CIF (N3,938,792.1 X 0.005) = N19,693.96

VAT is 7.5% of (CIF + Surface Value + LEVY + SUR + ETL) = N404,415.47

Instead of all these long calculations above, you can simply multiply our surface value with a constant value of 2.36 to get total import duty payable, that will give us N787,758.42 X 2.36 = N1,859,109. This is your total amount payable as import duty to NCS account. Click Here to see CIF values for other vehicles. We will keep coming up with new constant values as the variables changes with time.

Other Charges Includes: (Shipping Company & Terminal Charges + Agency Fee)

Shipping company & Terminal Charges + Agency Fee.

For Vehicles below 15 CBM, Salon Cars of all kinds - Budget N250,000. This also covers for VREG, Punching & Signing, CRFFN and Others (Excluding Demurrage Charges).

For Vehicles up to 25 CBM like Vans, SUV, Jeep, Pick-up - Budget N300,000. This also covers for VREG, Punching & Signing, CRFFN and Others (Excluding Demurrage Charges)

Visit our office address on this website or meet us at Tincan Island with a copy of your Bill of Lading / Telex Release let’s start the process and clear your vehicle today.

Call / WhatsApp us on 08024102554

We'll strongly recommend u visit our office in person or send someone to come and see exactly how everything is being done here, once the car has been cleared and released from terminal, we hand it over to you. We also assist non Lagos resident clients to clear and keep their vehicles till they are available for pick-up

insightful

Anything clearing and forwarding dey like abracadabra

kaysy:
Example of how to calculate the Import Duty of your vehicle, let’s say Toyota Highlander 2015.
SOLUTION:

The CIF Value of a used Toyota Highlander 2015 is usually around $9,333 based on the e-Valuation system. Please NOTE that you have to complete your vehicle's VREG through your preferred clearing agent before the Trade Portal can pull out the duty payable for your vehicle, the value given to a similar vehicle can also be used to determine yours. Also NOTE that any agency you used for the VREG will have to be the same agency that will punch and assess the work for duty payment.

The exchange rate the Nigerian Custom Service (NCS) uses at the moment is N408.77. The Rate of Duty for Vehicles is currently 20% of CIF Value.

So let’s convert the CIF Value to Naira, $9,333 X 408.77 = N3,815,050.41

Let’s get the 20% of N3,815,050.41. Which is N3,815,050.41 X 0.20 = N763,010.082

Now N763,010.082 is your Import duty which is called the surface value. This surface value is no longer negotiable since the introduction of the e-Valuation, whatever you get is what you pay. After the surface value is known, the next is to add these other charges to get the total amount you will pay as Custom duty. Click Here to see surface values for other vehicles

(LEVY is 15% of CIF) (SUR is 7% of Surface Value) (ETL is 0.5% of CIF)

VAT is 7.5% of (CIF + Surface Value + LEVY + SUR + ETL)

Instead of all these long calculations above, you can simply multiply our surface value with a constant value of 2.36

That will give us N763,010.082 X 2.36 = N1,800,703. This is your total import duty. We will keep coming up with new constant values as the variables changes with time.

Other Charges Includes: These are estimated values based on experience

Shipping company & Terminal Charges - Budget N120,000 (Excluding Demurrage and Non-starter Charges)

Agency Fee is N100,000 (This also covers for VREG, Punching & Signing, CRFFN and Others)

Visit our office address on this website or meet us at Tincan Island with a copy of your Bill of Lading / Telex Release let’s start the process and clear your vehicle today.

Call / WhatsApp us on 08024102554

We'll strongly recommend u visit our office in person or send someone to come and see exactly how everything is being done here, once the car has been cleared and released from terminal, we hand it over to you. We also assist non Lagos resident clients to clear and keep their vehicles till they are available for pick-up

Source: https://www.theclearingagent.com/2020/05/how-to-calculate-total-cost-of-clearing.html

Visit our website at https://www.theclearingagent.com/ for more

Information IS VERY CLEAR

I can't see The CIF Value of a used ford explorer 2018 on your website

will it be calculated based on purchase value

KOLAPO3:



Information IS VERY CLEAR

I can't see The CIF Value of a used ford explorer 2018 on your website

will it be calculated based on purchase value

This is a new system that just started, the more I get more values for other vehicles I'll keep updating the website

This does not apply to the new electronic system

I lease what is the cost of clearing Mercedes GLK 2011
Sallaum

Thanks

tuco02:
I lease what is the cost of clearing Mercedes GLK 2011
Sallaum

Thanks

I don't have the surface value for that now but budget like N1.3m

Chat me on WhatsApp so I can let u know as soon as I get the value

kaysy:


I don't have the surface value for that now but budget like N1.3m

Chat me on WhatsApp so I can let u know as soon as I get the value

1.3 ke

E350 on your site is about 2.1m

Itsrm:


1.3 ke

E350 on your site is about 2.1m

Once I get the exact value for Mercedes Benz GLK 2011 I'll update it here

This is a very educative post. Thank you!

kaysy:


I don't have the surface value for that now but budget like N1.3m

Chat me on WhatsApp so I can let u know as soon as I get the value

Wow 1.3. This is insane. .. and that is the beat price I presume?
Anyway thanks a lot for your response

Kaysy your website needs some new updates

Itsrm:
Kaysy your website needs some new updates

I'll update as soon as am chanced please, besides am gathering resources for it

kaysy:


I'll update as soon as am chanced please, besides am gathering resources for it

Okay boss

Someone told me he got informed it ll cost him 700k to clear Venza, I laughed in Spanish

kaysy:
Example of how to calculate the Import Duty of your vehicle, let’s say Toyota Highlander 2015.
SOLUTION:

The CIF Value of a used Toyota Highlander 2015 is usually around $9,333 based on the e-Valuation system. Please NOTE that you have to complete your vehicle's VREG through your preferred clearing agent before the Trade Portal can pull out the duty payable for your vehicle, the value given to a similar vehicle can also be used to determine yours. Also NOTE that any agency you used for the VREG will have to be the same agency that will punch and assess the work for duty payment.

The exchange rate the Nigerian Custom Service (NCS) uses at the moment is N408.77. The Rate of Duty for Vehicles is currently 20% of CIF Value.

So let’s convert the CIF Value to Naira, $9,333 X 408.77 = N3,815,050.41

Let’s get the 20% of N3,815,050.41. Which is N3,815,050.41 X 0.20 = N763,010.082

Now N763,010.082 is your Import duty which is called the surface value. This surface value is no longer negotiable since the introduction of the e-Valuation, whatever you get is what you pay. After the surface value is known, the next is to add these other charges to get the total amount you will pay as Custom duty. Click Here to see surface values for other vehicles

(LEVY is 15% of CIF) (SUR is 7% of Surface Value) (ETL is 0.5% of CIF)

VAT is 7.5% of (CIF + Surface Value + LEVY + SUR + ETL)

Instead of all these long calculations above, you can simply multiply our surface value with a constant value of 2.36

That will give us N763,010.082 X 2.36 = N1,800,703. This is your total import duty. We will keep coming up with new constant values as the variables changes with time.

Other Charges Includes: These are estimated values based on experience

Shipping company & Terminal Charges - Budget N120,000 (Excluding Demurrage and Non-starter Charges)

Agency Fee is N100,000 (This also covers for VREG, Punching & Signing, CRFFN and Others)

Visit our office address on this website or meet us at Tincan Island with a copy of your Bill of Lading / Telex Release let’s start the process and clear your vehicle today.

Call / WhatsApp us on 08024102554

We'll strongly recommend u visit our office in person or send someone to come and see exactly how everything is being done here, once the car has been cleared and released from terminal, we hand it over to you. We also assist non Lagos resident clients to clear and keep their vehicles till they are available for pick-up

Source: https://www.theclearingagent.com/2020/05/how-to-calculate-total-cost-of-clearing.html

Visit our website at https://www.theclearingagent.com/ for more

Thanks for your insight... Pls wat the cost of buying honda crv 2008 now?

Danthemariner:


Thanks for your insight... Pls wat the cost of buying honda crv 2008 now?

We only handle cost of clearing here

Clearing Cost for Honda CR-V 2008 is N1,050,720

What's the Total cost of clearing a 2011 Lexus ES350 with full duty payment??

kaysy:


We only handle cost of clearing here

Clearing Cost for Honda CR-V 2008 is N1,050,720

Ok thanks

Hello sir, please what is cost of clearing 2008 Honda Accord.

Pls what's the current value to clear a 2008 Skoda Fabia

Thanks for the breakdown. Please what's the cost of clearing Lexus #330 2006 ? Thanks.

Y2ffarms:
Thanks for the breakdown. Please what's the cost of clearing Lexus #330 2006 ? Thanks.

N1,800,000

kaysy:


N1,800,000

Please what is the cost of clearing venza 2010...

Ekenem123:



Please what is the cost of clearing venza 2010...

N1,673,000

Toyota Corolla 2015 Cleared @ N1,210,000 - Grimaldi

Surface Value: N419,071
CIF Value: $5,125
Exchange Rate: 408.77
Rate of Duty: 20%

Lexus RX 350 2010 Cleared @ N1,811,000 - Grimaldi

Surface Value: N674,389
CIF Value: $8,249
Exchange Rate: 408.77
Rate of Duty: 20%

Lexus RX 350 2013 Cleared @ N1,811,000 - Grimaldi

Surface Value: N674,389
CIF Value: $8,249
Exchange Rate: 408.77
Rate of Duty: 20%

Lexus RX 350 2013 Cleared @ N1,960,000 - Grimaldi

Surface Value: N696,711
CIF Value: $8,249
Exchange Rate: 422.3
Rate of Duty: 20%

LEXUS GX 470 2004 Cleared @ N2,370,000 - Sallaum

Surface Value: N873,570
CIF Value: $10,343
Exchange Rate: 422.3
Rate of Duty: 20%

More works ongoing