The Nigeria Customs Service (NCS) has established a Standard Operating Procedure for valuation, tariff classification, or origins of goods before they are imported, noting that the procedure will be used for the implementation of advance ruling.
A release issued by the service Monday said advance ruling is a concept wherein the Customs Administration provides a written decision upon request from the importer concerning necessary documentations on valuation, payments profile system and origin of goods ahead of the importation.
The release signed by the national public relations officer, Abdullahi Maiwada, said the basis upon which SOP was adopted lies in Section 24 sub-sections 1-9 of the new NCS Act, 2023, and Article 3 of the World Trade Organisation (WTO) Trade Facilitation Agreement (TFA).
It further said the decision was reached at the 6th management meeting of the NCS held last week in Abuja.
The NCS said the move aligns with the principles outlined in the Revised Kyoto Convention of 2006 and the WTO Trade Facilitation Agreement of 2017.
On the efficacy of advance ruling, the NCS said it has been proven as a valuable tool for trade facilitation, benefiting the customs administration and traders as well as enhanced predictability and certainty in Customs treatment for goods.
