The implementation of the 35 per cent import levy on used cars will now begin on June 30, 2015 as the Federal Government has once again shifted the commencement date by two months.
In a move to encourage local assembling of vehicles, the government had in September 2013 raised the import tariff on fully-built cars and used vehicles from 22 per cent to 70 per cent made up of 35 per cent duty and 35 per cent levy.
It also announced a zero per cent tariff on Completely Knocked Down units (vehicles) and five per cent to 10 per cent on Semi Knocked Down units.
The first phase of the policy, involving the payment of the 35 per cent duty came into effect in February 2014.
The Director-General, National Automotive Council, Mr. Aminu Jalal, informed our correspondent through a text message on Monday that a circular had been issued by the Federal Ministry of Finance deferring the implementation of the levy to June 30. He did not give any reason for the postponement.
Source|Punch
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