Showing posts with label imported cars. Show all posts
Showing posts with label imported cars. Show all posts

Thursday, July 3, 2014

FG denies 70% duty on imported cars




… Decries $3.4bn spent on Tokunbo annually
Federal Government has denied media re­port that 70 per cent duty has been imposed on imported used cars, pointing out that the approved duty remains 35 per cent.
Government also explained that those involved in the auto policy programme, includ­ing firms assembling cars in the country and creating jobs, would be able to import cars at 35 per cent while those putting strain on the foreign reserves with no intention to create jobs would pay 70 per cent duty on imported cars to discourage them from trading.

ST

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