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We use Dialogue to resolve 15% NAC levy on Vehicles- Farinto

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Dr. Farinto

The Acting President of Association of Nigeria Licensed Customs Agents (ANLCA), Dr Kayode Farinto has said that the strike embarked upon to protest the Vehicle Identification Number (VIN ) Valuation policy cost them over N700m in demurrage from terminal operators.

According to Farinto, strike is injurious to the economy saying, various terminal operators and shipping companies will not waive demurrage incurred during strike because they didn’t caused the strike. He however said the association may not embark on any strike action on the newly introduced 15% levy National Automobile Council ( NAC).
He said they will rather deploy the rule of engagement and dialogue “that we will be embarking on and we have started doing so.

“NAC itself is a policy that was actually formulated to protect our local Vehicle assemblers, thinking that by now, we will be able to produce Nigeria-made vehicles and it is supposed to be 2% of Cost Insurance and Freight (CIF) on new vehicles or spare parts. But imposing NAC on used vehicles is an aberration and we will make sure we fight it from here to Abuja,” he said.

Farinto added that the Ministry of Finance instructed Customs to implement the levy and so they would be meeting them to discuss the issue.

On the Vehicle Identification Number (VIN) Valuation policy, Farinto noted that the agents association had met with Customs and fine-tuned the grey areas, such as rebate, and urged them to factor in ‘accidented’ and salvaged vehicles.

“We have legal notices that talk about rebate on usable and the notice is so explicit that it gives 10% rebate per year as per usable Vehicles.

“This VIN Valuation policy is a lofty idea from us and we sold the idea to Customs so as to have a uniform value across all terminals, but unfortunately, Customs input outrageous internet values.

“In a normal clime, the over N700milion demurrage on storage charges by terminal Operators that Nigerian Importers paid during the strike action should have been paid by the Customs Service or they be dragged to court. But Nigerians are not litigious, everything is about God,” he said.

Farinto further inform that during the meeting with Customs on the VIN valuation policy, they urged them after fine-tunning the VIN, to test- run in Lagos terminal for two weeks, before implementing it in other ports across the country.

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