Part VI {Customs And Excise Tariff {Consolidation}, etc Act}}, of the new Finance Act 2020, specifies the duties and levies to be paid on imported vehicles, as hereunder:

38. The first Schedule to the Act is amended by inserting and replacing, as the case may be, the following duties and levies:

{a} Duty on Tractors {HS Headings 8701} from 35 percent to 5 percent

{b} Duty on Motor Vehicles for the transport of more than 10 persons {HS Headings 8702} from 35 percent to 10 percent 

{c} Levy on Motor Vehicles for the transport of persons {cars} {HS Headings 8703} from 35 percent to 5 percent

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{d} Duty for Motor Vehicles for the Transport of Goods {HS Headings 8704} from 35 percent to 10 percent.

Provided that vehicles exempt from applicable duties and levies shall continue to enjoy such exemption.

39. The Second Schedule of the Act is amended by substituting for Paragraph I, a new Paragraph “I”:

“I, Airlines registered in Nigeria and providing commercial air transport services are entitled to duty-free importation of their aircraft, engine, and spare parts, whether purchased or leased.”