[The Director-General, National Automotive Council, Mr. Aminu Jalal] added that importers could still clear imported vehicles at the old rates until February 28, 2014, provided “they can prove that they had opened a letter of credit for the vehicles before October 3, 2013.” This answers one of the questions many of us have which is: When will the new tariff come into effect”? Now that we know it is February 28, 2014, we can plan accordingly. That part is clear and concise. Unfortunately the second part of that quote is not. In it, the Director-General said: …provided “they can prove that they had opened a letter of credit for the vehicles before October 3, 2013.” Is he saying that tokunbo cars purchased after October 3, 2013 will incur the new higher tariff? It is not very clear but that appears to be what he is saying. In the meantime, it will be advisable to thread cautiously on all new imports until that statement becomes clearer.
Posted on: Mon, 07 Oct 2013 12:40:34 +0000
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