Speaking in Abuja at the unveiling of a Strategic Revenue Growth Initiative held in Abuja, Comptroller-General of Customs, Col Hameed Ali (retd.) has called on the Federal Government to reduce the 35 per cent levy on imported vehicles so as to check the rising cases of smuggled vehicles into the country.
He said the Nigeria Customs Service had already made a proposal to the Ministry of Finance on the need for a reduction in the current levy describing the 70 per cent being charged by the government as high, adding that time had come for it to be reduced.
The Comptroller- General said currently, any new vehicle imported into the country attracted an import duty of 35 per cent and an additional levy of 35 per cent noting that the total duty payable on such a vehicle comes to about 70 per cent.
In achieving this, he said, the government could still retain the 35 per cent import duty while the additional 35 per cent levy could be tinkered by bringing it downwards.
