VIN Has Reduced False Information on Imported Vehicles

VIN Has Reduced False Information on Imported Vehicles - Customs

DC Timi Bomodi

The Nigeria Customs Service (NCS) has disclosed that the Vehicle Identification Number (VIN) valuation system has recorded huge success since its introduction.

The National Public Relations Officer of the service, Deputy Comptroller Timi Bomodi stated this yesterday in Abuja. He stated that the system had been able to drastically reduce false information on imported vehicles.

According to him, “the VIN valuation has been successful because it is no longer easy to play around with information; “Before the introduction of the system, it was easy for people to manipulate the process because they were making manual declarations about vehicles" " For instance, if they were bringing in 2020 model of vehicles, they might be able to manoeuvre and say they were bringing in 2010 model because they knew they would pay less".

He said with the system currently in place, every piece of information about a vehicle gets revealed once entered into the system. Continuing, the Customs spokesperson said the process had made it possible for the service to get appropriate duties for imported vehicles.

On whether the value fixed for vehicles was fair enough to allow for ease of doing business, Bomodi said necessary steps were followed before arriving at the current value.

He said customs arrived at a fair value for different models of vehicles after due consultation with importers, brokers and other stakeholders.

Recall that the VIN valuation policy was introduced in February this year for allocation of automated standard values to all vehicles being imported.

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