As controversy continues to surround the introduction of 15 per cent National Automobile Commission levy imposed on imported used vehicles by the Nigeria Customs Service, car dealers have threatened to close their stores this week.

The NCS had recently introduced a 15 per cent National Automobile Commission levy on used imported vehicles, a decision which didn’t go down well with clearing agents in the country’s maritime sector.

The agents argued that the NAC levy is mostly meant for new vehicles, questioning the rationale behind the introduction of the duty on used vehicles.

In a quick response, the service, in a statement by the National Public Relations Officer, Timi Bomodi, said the move was in compliance with the Economic Community of West Africa Common External Tariff.

“The nation has adopted all tariff lines with few adjustments in the extant CET. As allowed for in Annex II of the 2022-2026 CET edition, and in line with the Finance Act and the National Automotive policy, NCS has retained a duty rate of 20 per cent for used vehicles as was transmitted by ECOWAS with a NAC levy of 15 per cent. New vehicles will also pay a duty of 20 per cent with a NAC levy of 20 per cent as directed in the Federal Ministry of Finance letter ref. no. HMF BNP/NCS/CET/4/2022 of 7th April 2022.”

But in a chat with newsmen in Lagos on Monday, the Lagos chapter Chairman of the Association of Motor Dealers of Nigeria, Metche Nnadiekwe, disclosed that the group would be meeting this week.

Source: PUNCH

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