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...For a better society... Thursday, October 07 2004 Vol 17 No.30 News Editorial Opinion Politics Sports Features Health Woman Foreign News Columnists Business Money/Market InfoTel Brands/Promotions Trade/Commerce View from America Imports: Govt withdraws duty waivers COSMAS EKPUNOBI, Abuja FEDERAL Government has finally withdrawn duty waivers on all imported items. Briefing the Senate Committee on Appropriation on the 2005 budget estimates the Deputy Comptroller-General (DCG) of the Nigeria Customs Service, Alhaji Abubakar Malam, disclosed that President Olusegun Obasanjo had directed the service to withdraw all forms of waivers on imported items. He told the Senate yesterday that government had between January and August this year lost a pricely N27.6 billion revenue as a result of duty waivers and concessions on imported items. The Customs topshot also said that the NCS may not meet its revenue target for the year due to the clampdown on prohibited items, as well as import duty exemptions granted some importers. According to him, attention will be focussed on prohibition of luxury items and cancellation of duty waivers on imported items. Already, he said, government has given the Customs a revenue target of N252.6 billion for 2005 while the Value Added Tax (VAT) on import and other charges is N124.7 billion. � 2004 @ Champion Newspapers Limited (All Right Reserved). Powered By dnetsystems.net dnet�

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