Vehicle importers kick as Customs implements ECOWAS common tariffs | The Guardian Nigeria News

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The Nigeria Customs Service (NCS) has commenced the implementation of the new version of the Economic Community of West African States (ECOWAS) Common External Tariff, (CET) 2022-2026 on imported vehicles.

According to the NCS, the migration from the old CET (2017-2021) to the new version, which is in line with the World Customs Organisation (WCO), takes immediate effect.

In a statement, yesterday, the Customs spokesman, Timi Bomodi, said the new rates apply to both new and used vehicles imported into the country. New and used vehicles are subjected to a National Automotive Council (NAC) levy of 20 and 15 per cent respectively.

The Service also confirmed the reduction of import duty on imported vehicles from 35 to 20 per cent.

The statement reads: “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 NAC, NCS has retained a duty rate of 20 per cent for used…



Source: Guardian Newspaper