Nigeria Customs Scraps VIN Valuation On Tokunbo Vehicles, Revert Back To Manual Method

Nigeria Customs Service scraps VIN Valuation on Tokunbo vehicles, revert back to the old manual method. 

Says officers are not complying with the procedure for examination, valuation and release of used vehicles

The Nigeria Customs Service (NCS) has directed its officers to revert back to the old manual method of obtaining value on used vehicles, a move that puts a temporary suspension to the VIN Valuation system introduced last year December 2022.

In a circular sighted by DAILY TREND, the service directed its valuation and examination officers at the port to revert to issuing manual valuation for used vehicles.

The circular with number : NCS/T&T/2023/014 signed by the Assistant Comptroller General, Tariff and Trade, C.K Niagwan, dated 24th of August 2023 states that :

“It has been observed with great concern that examination and valuation Officers are not complying with the procedure for examination, valuation and release of used vehicles.

“For the avoidance of doubt, all used vehicles after examination are to be referred to the Valuation seat to verify the trim of the imported vehicle and assign the appropriate value, instead of applying the base value.

“Pursuant to the above, you are requested to re-orient all examination and valuation Officers of this procedure to prevent further loss of revenue”

The move follows the alarm recently raised by the Customs Service over serial infractions by importers and clearing agents in the payment of duty on imported used vehicles also known as Tokunbo vehicles.

Some clearing agents were alleged to have been shortchanging the Federal Government, according to a memo which emanated from the office of the former Assistant Comptroller General of Customs, Tariff and Trade, Musa Baba Abdulahi.

The memo, titled ‘Value Cut on Extended Procedure Code 846’, which was dated 17th July 2023 and sited by DAILY TREND reads :

“A new trend of infraction has been discovered where the value approved on the assessment slip for the extended procedure code 846 is not completely utilized.

“The CAC should take immediate action to stop the infractions and also liase with the DC Revenue, DC Valuation and DC PCA and ensure recovery of lost revenue.

“Attached in Annex A is the list of some C numbers with such infractions. Other C numbers will be forwarded in due course as the profiling is a continous process. Ensure strict compliance, please.”

Credit : DAILY TREND

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