The VIN Valuation System for imported automobiles has been relaunched by Customs

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The Nigeria Customs Service (NCS) has relaunched the Vehicle Identity Number (VIN) vehicle value system, assuring stakeholders that it has been thoroughly examined.

The Customs Comptrollers at the forum, which unveiled the new VIN platform at the NCS Apapa command, listed the benefits of the automobile system as boosting ease of doing business and facilitating legitimate trade, among other things.

According to them, the system has been made easy and flexible to make it user-friendly, and it prioritizes accident cars and depreciation, among other things.

“The world is going digital,” stated Yusuf Malanta, Comptroller, Apapa Command. We cannot afford to be late. On the VIN Automation of Customs process, we performed numerous checks and controls. Some agents may now sit in their bedrooms and process their shipment clearances. The world is becoming increasingly digital. We cannot afford to be late. Another positive development is the new digital PAAR. Nigeria would not stand by and watch as others take use of digital technologies to facilitate business.

“Please let us know if there is anything we need to change.” “We’ll alter it, but the VIN valuation is set in stone,” he stated.

Comptroller Anthony Udeze, Controller Valuation, Headquarters, said the Customs has examined the previous method that sparked an outcry from importers, and that it has given the values a human aspect.

“We showed it to clearing agents and freight forwarders associations in Abuja, and we introduced it to members of the House of Representatives, who gave their approval.” Today, we’re educating stakeholders about the importance of VIN valuation,” he stated.

According to PTML Comptroller Festus Okun, the Customs department has implemented basic taxing principles, resulting in fairness, uniformity, and convenience.

“We should collaborate to ensure that the system functions in a way that promotes trade,” he said.

“The system would assist us to tackle the security concerns we have in this nation, eases business, and facilitates legitimate trade,” Tin Can Command Controller Comptroller Adekunle Oloyede stated.

Kayode Farinto, Acting President of the Association of Nigerian Licensed Clearing Agents (ANLCA), advised agents to maintain openness and follow trade processes to the letter.

According to him, the increase in the value of PAAR is not professional because it provides stakeholders the idea of bypassing the process.

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