Tax Identification Number (TIN) registration is compulsory for all citizens, businesses, and organizations operating in Nigeria as stipulated by the Nigerian law. All Nigerian citizens whether working in the civil service commission or not are required to have a Tax identification number.
Individual and corporate taxes are collected by a dedicated Federal agency Federal Inland Revenue Service (FIRS) and Joint Tax Board (JTB) and these taxes are collected by the state to meet a number of goals
What is Tax Identification Number (TIN)?
Tax Identification Number (TIN) is a unique number given to an individual, a registered business or incorporated companies for the purpose of tax payment. TIN as fondly called is generated by the Tax Authority for proper identification, order and ensuring that more people are brought to the tax net.
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Usually, the number is issued by the Tax Authority, through Joint Tax Board portal online or via an application letter to the office of Federal Inland Revenue Services nearest to your location.
In line with Section 10, subsection 2 of CIT Acts, as amended in 2019 Finance Acts. Banks in Nigeria has been mandated to obtain Tax Identification Number (TIN) from both Individual and Corporate Organisations, before an account can be open for them.
The section equally requires Banks to ensure, all accounts opened prior to this Acts, provide such Tax Identification Number (TIN) information as a precondition for the continued usage of their bank accounts
This is done to synchronize taxpayer banking and tax database with a view to improving tax compliance and ease of tax administration. This will also expand the tax net to capture more individuals and the informal sector.
Creation of TIN is divided into two
- TIN for Individuals
- TIN for Organisations
How To Generate TIN for Individuals
Individuals can apply on the JTB website with NIN or BVN (Bank Verification Number) or visit your nearest Federal Inland Revenue Service (FIRS) with Utility Bill, Valid ID (Government Approved) and a Passport Photograph.
You can check online to see if you have an existing TIN by clicking here.
To verify TIN, search using your BVN or Registered Phone Number and your Date of Birth.
How To Generate TIN for Non individuals
Non Individuals such as (Limited Liability Companies, Incorporated Trustees, Enterprises, Cooperative Society, MDAs, and Trade Association etc.) can register for their TIN on the JTB website with Certificate of Incorporation and Director’s BVN or NIN and a valid ID of Directors.
Your request will be verified and approved. TIN Certificate will be sent automatically to registered email or hard copy can be pick at FIRS Office.
However the foregoing, due to system integration issues between FIRS and JTB, both individual and Non individual registration done on JTB website, will have to be domesticated at nearest FIRS Office for validation and proper activation for major Government Agency operations such as Nigeria Customs, Central Bank of Nigeria and Standard Organisation of Nigeria.
Why you need a TIN (Individual & Corporate)
- A TIN is required to open a corporate bank account or business account
- A TIN is required for foreign exchange transactions
- A TIN is required for Government-backed loans,
- A TIN is needed for securing Import & Export trade licenses
- A TIN is needed for Vehicle particular application
- A TIN is needed for securing Certificate of Occupancy (CofO)
- A TIN is to secure a tax clearance certificate for a company or business.
Of course, there are many other instances that may require you have a TIN number.
How to Get Tax Identification number Application form online
The Joint Tax Board (JTB) has set out the guidelines and processes to follow in order to register or apply for a tax identification number (TIN) in Nigeria.
There is an electronic system that has been put in place to easily facilitate the process, the government in his bid to modernize the operations of the state has been introducing a number of modernized and technology-driven systems into the state’s operation to enhance performance, and facilitate reliable data storing systems. One such system is seen in the new tax administration process which allows for online tax verification and registration.
How long does it take to get a TIN number?
Normally the TIN should be issued almost immediately within the time frame of 24 to 48 hours, but some FIRS offices tend to be facing bottlenecks which sometimes gives the process a drawback and can extend till up to 2 weeks in some situations.
TIN number application cost
If you do it yourself, applying for your TIN is free of charge, You don’t have to pay a thing to get it and you don’t have to hire anybody to apply for it. Many people, therefore, tend to use third-party services to help them do it which possibly attracts some charges.
How to Apply for company TIN Number (Online & FIRS office)
You will need to go to the Federal Inland Revenue Service (FIRS) office which is closest to you for your company TIN number registration. It is expected that your business is already registered with the Corporate Affairs Commission or have been incorporated with the agency. You will be given the TIN number registration form at any FIRS office nationwide.
To know more about how to create your TIN or other Tax Management , kindly contact us
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