As mandated in Section 18 (1) of the Nigeria Customs Service Act (NCSA), the 4% levy on the Free On-Board (FOB) value of imports has been notified by the agency.
The value of imported items, including commodities and transportation costs up to the port of loading—helps to determine this charge. The NCS underlines that improving the operational effectiveness of the agency depends on this step.
Concerns were raised by stakeholders over the concurrent collecting of the new 4% FOB tax and the 1% Comprehensive Import Supervised Scheme (CISS) cost. The CISS fee is a regulatory charge paid for the Destination Inspection Scheme funding for Nigeria.
The NCS has responded by reassuring the public that to handle these issues, comprehensive negotiations with the Federal Ministry of Finance are under progress. The Nation Newspaper Emphasising that the actions taken match the NCSA 2023 and show a balanced approach resulting from many conversations with industry players, importers, and regulatory authorities, the NCS exhorts all stakeholders to support this legally binding endeavour.
Comptroller General Bashir Adewale Adeniyi leads the NCS in reaffirming its dedication to openness, fair trade policies, and effective tax collecting. Concerns over the possible financial burden resulting from the extra fees have been expressed by business owners and importers.
The NCS is in talks with the Federal Ministry of Finance to handle the issues expressed by interested parties after appreciating their worries. In order to guarantee compliance and clarity on the implementation process, the NCS has also issued a directive requiring all Customs Area Controllers to actively involve stakeholders by sensitisation programs, seminars, and meetings.
The NCSA 2023 has been shaped and actualised in great part by the contributions of stakeholders, so strengthening transparency in customs operations, efficiency, and innovation while building a solid legal basis.
The NCS is still dedicated to maintaining openness, fair trade policies, and effective income management; so, it exhorts all interested parties to help this project to guarantee its successful execution.
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