2014-11-14 | 11852 Print PDF
Import duty and taxes are due when importing goods into Nigeria whether by a private individual or a commercial entity. The valuation method is CIF (Cost, Insurance and Freight), which means that the import duty and taxes payable are calculated on the complete shipping value, which includes the cost of the imported goods, the cost of freight, and the cost of insurance. In addition to duty, imports are subject to sales tax, and other taxes specific to certain commodities such as excise, sugar levy, rice levy, cigarettes levy, and automotive levy.
Duty rates in Nigeria vary from 0% to 35%, with the average duty rate at 16.96%. Some products can be imported free of duty (e.g. books).
VAT is levied on imports at a standard rate of 5% on the sum of the CIF value, duty, and excise and other taxes if applicable.
There is no minimum threshold in Nigeria. Therefore, imports are subject to duty and taxes regardless of their value.
More information on import declaration procedures and import restrictions can be found at Nigeria Customs Service .
More Information on the Nigerian CET Tarrif ACT can be found HERE
More Information on the Nigerian Import Duty Payment Fees can be found HERE
You can Download the Nigerian duty Trade Hub Calculator HERE
For professional assistance and guide please reach us at Tripple A Freight Forwarder
Phone: 234-7039847754 WHATAPP: 07046835137 BB-PIN: 2926FD2D Email- firstname.lastname@example.org WEBSITE:- http://www.trippleafreightforwarder.com