NCS to facilitate quick export of processed goods with 100% local content
The Free Trade Zones (FTZs) Committee on Nigerian Customs Service (NCS] Operational Remodeling has recommended that the service allows the quick export of finished and processed commodities containing 100 per cent local raw materials with immediate effect.
The recommendation, which the NCS promised to adopt, was given by the Chairman of the Committee, Toyin Elegbede while presenting a report to the committee.
The report also stated that such goods should have a minimum stipulated value-added tax (VAT). Elegbede delivered the content of the report yesterday at a joint meeting of heads of the NCS, the Nigerian Export Processing Zone Authority (NEPZA), the Oil and Gas Free Trade Zone Area (OGZA) and the Nigeria Economic Zones Association (NEZA) to receive the recommendations of the committee in Abuja.
The committee was constituted in July at the instance of the Managing Director of NEPZA, Prof. Adesoji Adesugba, Managing Director of OGZA, Tiijani Kaura, Secretary to the Nigeria Economic Zones Association (NEZA), Toyin Elebgede as well as the Acting Comptroller General of Customs (CGC), Bashir Adewale Adeniyi.
They are expected to submit recommendations a few weeks after their inauguration. It was mandated to, among other things, recommend the best ways to reduce the friction and non-cooperation among agencies operating at the nation’s free trade zones at the various ports across the country to promote export trade businesses.
The report also prescribed the immediate integration of all free trade enterprises into the NCS portal IM5 (5900), which is to be redesigned to resolve the VAT implications for sales to the customs territory.
It similarly recommended the harmonisation of all the areas of conflict contained in the legal frameworks of NCS, NEPZA and OGZA among others. Elegbede said: “While I thank you all on behalf of the other eight members of the committee for the confidence reposed on us to carry out this assignment, please permit me to enjoin all of us to ensure that our recommendations are taken seriously for the benefit of our country.”
Responding, the Acting Customs’ boss promised to immediately adopt recommendations that fell within the operational policy of the service for implementation. Prof. Adesugba of NEPZA and his OGZA counterpart applauded the committee for a job well done.
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