The National Automotive Council has once again reiterated it commitment to commence the implementation of the Nigerian Automotive Industry Development Plan from January 2015.
NAC made this known in a statement signed by its Director-General, Mr. Aminu Jalal, on Tuesday.
Excerpts from the statement reads: “Government had already shifted the implementation of
the full tariff on new vehicles from January 10, 2014 to July 1, 2014 to enable importers to clear the vehicles they had ordered at the old duty rates. Government only extended the concession on the importation of used vehicles only by another six months till December 31, 2014.
the full tariff on new vehicles from January 10, 2014 to July 1, 2014 to enable importers to clear the vehicles they had ordered at the old duty rates. Government only extended the concession on the importation of used vehicles only by another six months till December 31, 2014.
“This was because up to three out of four imported cars are used and time needs to be given to the assembly plants to produce affordable vehicles to replace the imported used ones. Unfortunately, this levy on new cars was misinterpreted to mean that all vehicles, including new FBU imports, were exempt from levies until December 31, 2014.”
The National Automotive Council in the statement also reassured industry watchers and stakeholders that it had not reneged on its promise to shift the implementation process of certain aspects of the NAIDP till January 2015, noting that the application of the levy exemption was only being misinterpreted.
NEW TARRIF ON IMPORTED VEHICLES TO BE IMPLEMENTED, JANUARY 2015 –NAC
The National Automotive Council has once again reiterated it commitment to commence the implementation of the Nigerian Automotive Industry Development Plan from January 2015.
NAC made this known in a statement signed by its Director-General, Mr. Aminu Jalal, on Tuesday.
Excerpts from the statement reads: “Government had already shifted the implementation of
the full tariff on new vehicles from January 10, 2014 to July 1, 2014 to enable importers to clear the vehicles they had ordered at the old duty rates. Government only extended the concession on the importation of used vehicles only by another six months till December 31, 2014.
the full tariff on new vehicles from January 10, 2014 to July 1, 2014 to enable importers to clear the vehicles they had ordered at the old duty rates. Government only extended the concession on the importation of used vehicles only by another six months till December 31, 2014.
“This was because up to three out of four imported cars are used and time needs to be given to the assembly plants to produce affordable vehicles to replace the imported used ones. Unfortunately, this levy on new cars was misinterpreted to mean that all vehicles, including new FBU imports, were exempt from levies until December 31, 2014.”
The National Automotive Council in the statement also reassured industry watchers and stakeholders that it had not reneged on its promise to shift the implementation process of certain aspects of the NAIDP till January 2015, noting that the application of the levy exemption was only being misinterpreted.