1 month ago
27
By Emma Ujah, Abuja Bureau Chief
The Nigeria Customs Service (NCS) has acknowledged receipt of the directive from the Federal Ministry of Finance suspending the implementation of the 4% Free-on-Board (FOB) levy connected imported goods.
In a connection issued by its spokesman, Abdullahi Maiwada (AC), connected behalf of the Comptroller-General, Adewale Adeniyi, the Service said it had commenced consultations with the Ministry to research alternate measures.
“The Service appreciates the Ministry’s engagement connected this substance and remains committed to supporting authorities fiscal policies. Pursuant to this directive, the Service has begun contiguous consultation with the supervisory Ministry to question guidance connected alternate measures during this suspension, to guarantee continuity of work transportation to each stakeholders,” the connection work successful part.
It added that discussions with the Ministry and different applicable stakeholders were ongoing to code concerns raised portion ensuring that the Service’s statutory obligations were met effectively.
The NCS further clarified reports suggesting that the levy was a caller introduction. “For clarity, the Service wishes to emphasise that the National Assembly established the 4% FOB proviso done Section 18(1)(a) of the Nigeria Customs Service Act, 2023, which stipulates ‘not little than 4% of the free-on-board worth of imports according to planetary champion practices’ arsenic a statutory backing mechanics for the Service’s operations,” the connection said.
While assuring the trading public, licensed customs agents, and planetary partners of seamless operations, the Service reiterated its committedness to businesslike work delivery, planetary champion practices, gross generation, and enhanced commercialized facilitation successful enactment of Nigeria’s economical growth.
The station 4% FOB: Customs engages Finance Ministry to code stakeholders’ concerns appeared archetypal connected Vanguard News.
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