Maritime
Customs Implements Importers TIN Policy
The Nigeria Customs Service, (NCS) has started the implementation of the Tax Identification Number (TIN) for all importers.
The NCS said it will clamp down heavily on defaulters that failed the March 31, 2013 deadline.
TIN, a tax identification number was introduced by the Federal Inland Revenue Service (FIRS) and the Nigeria Customs Service (NCS) as an interconnectivity policy for the purpose of clearing goods at Nigerian ports.
According to the directive issued by Assistant Comptroller General of Customs (ACG) Umar I.A, to all Area Controllers, all customs commands were directed to inform all importers and Customs licensed Agents that they must have to pay the sum of N1,500 for the new e-form “m”, if they must import into the country.
The e-form “m” is a requirement for all shipments into Nigeria. Before now the form “m” was issued by the Central Bank of Nigeria (CBN) manually.
The CBN has also mandated all Authorised Dealer Banks (ADBs) to charge the new amount for each declaration of electronic form “m” otherwise known as (e-form “m”).
It said the fee was necessary following the successful deployment on the single window trade portal and the commencement of online submission of form “m”.
The apex bank has issued a circular authorizing Dealers, Importers, Traders and the general public that there should be a direct debit of the processing banks current account for each declaration.
The letter was signed by W.D Gotring, Director, Trade and Exchange of the CBN and dated March 21, 2013.
“The charge on the customer for the e-form “m” should be separated from other bank charges”, the CBN stated.
The CBN also announced the commencement of self submission of the e-form “m” on the Nigeria single window trade portal by importers and traders, using foreign exchange.
According to the Bank, the self submission was necessary after the successful deployment of the trade portal by the Nigeria Customs Service.
The CBN said that the e-form “m” is a web based and allows the importers and traders to initiate the form from the comfort of their offices or houses and submit same to the authorised dealers”, that they will be cut off, if they do not replace their Registered Company (RC) number with the new TIN number.
The directive was titled “Replacement of RC number with Tax identification number”, the letter advised all importers and traders wishing to do business in Nigerian ports to get their TIN before the expiration of the time given by the Customs service.
With the expiration of the given date by the customs, stakeholders are worried that business may be dull as a result of the policy.
Already the various terminals at Lagos Ports are witnessing a fall in their revenue profile as a result of low imports.
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