- 1 Marks
Question
The rate of import duty on live reptiles, including snakes and turtles is:
A. 25%
B. 20%
C. 15%
D. 10%
E. 5%
Answer
Answer: D 10%
Explanation: The correct answer is D. The import duty rate for live reptiles, including snakes and turtles, is 10%. This specific rate is imposed under the Nigerian customs tariff for live animals.
- Reasoning: Customs duties for live reptiles are set at a lower rate compared to other categories of goods. The rate of 10% reflects the regulatory approach toward importing live reptiles into Nigeria under the customs and excise duty framework.
- Tags: Customs, Import duty, Reptiles, Tax Rates
- Level: Level 1
- Topic: Tax Administration and Enforcement
- Series: MAY 2021
- Uploader: Kwame Aikins