Customs Enforces ECOWAS CET on Imports

The federal government has approved the implementation of the Economic Community of West African States (ECOWAS) Common External Tariff (CET) 2015-2019 and 2015 Fiscal Policy Measures.

The approval for the implementation of the new tariff was conveyed in a statement signed by the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala.

The implementation of the ECOWAS CET (20152019) together with its Supplementary Protection Measures (SPM) and 2015 Fiscal Policy Measures (FPM) occurs concurrently and will take effect from April 11, 2015 after the expiration of the 30-days notice required under the provisions of the ECOWAS CET.

By this development, as from April 11, all imports arriving into the country shall be subjected to the rates contained in the CET 2015- 2019 and 2015 Fiscal Measures without recourse to the rates applicable before the coming into effect of the ECOWAS CET 2015–2019.

The approved SPM/Fiscal Policy Measures comprise the Import Adjustment Tax (IAT) list, which involves additional taxes on 177 tariff lines of the ECOWAS CET, a national list consisting of items whose import duty rates have been reviewed to encourage more development in strategic sectors of the economy, and an Import Prohibition List (Trade), applicable only to certain goods originating from non-ECOWAS countries.

The Comptroller-General of Customs, Alhaji Dikko Inde Abdullahi has directed immediate enforcement of the tariff provisions by all CACs. He urged all stakeholders to ensure compliance with the New ECOWAS tariff to enhance trade facilitation within and outside the region.