car dealers2Following the new policy approved by the Federal Government for Nigeria Customs Service (NCS), vehicle dealers in the country have been given 28 days to pay duty after clearing their cars from the ports.This is against the old practice where dealers  paid  duty on their cars before taking them from the ports.
Similarly, customs also announced its plans to  issue licences for the  establishment of Inland  bonded vehicle terminals across the country.

imported cars
In a statement, the service spokesman, Joseph Attah, said that besides boosting the economy, the policy will equally increase commercial activities.
He noted that  the new regime of car holding which is  coming after the ban on the  importation  of vehicles through the land borders will boost auto businesses, strengthen national economy and security.
Apart from removing the burden of duty payment at the ports of discharge from the operator, there will be many positive multiplier effects like spare parts shops, mechanic villages, food vendors and many more springing up around such terminals.

He added that full customs functions of examination, assessment for value and prevention of smuggling through any form of concealment in vehicles will not be compromised under the new regime.
Operators will be allowed to take delivery of their vehicles to their terminals under customs escort and pay duty within a 28-day grace period.
He noted that Customs will only approach the dealers for duty payment at the expiration of the 28 days period after operators had made sales from imported cars at their bonded terminals.
The spokesman stated that for  ease of duty collection and security, the customs will maintain  presence inside the terminals while the bills of laden will indicate  actual terminals where the imported vehicles will be transferred to and will make for easy evacuation from the ports to the designated terminals. He said that unlike  previous methods of collecting duties on vehicles before they exited  the ports which posed  risks of congestion, the new regime will feature a seamless transfer of cars from the ports to bonded terminals.



source; The Sun Newspaper