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Here’s how to get a Tax Identification Number (TIN)

A lot of people have been shying away from getting a tax identification Number for their businesses and we don’t blam ...

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Here’s how to get a Tax Identification Number (TIN)

A lot of people have been shying away from getting a tax identification Number for their businesses and we don’t blame them. They hear the word, Tax and they imagine they have to pay a ridiculous sum to the government every month. It’s simply orientation. We hope that by the end of this article, we’d be able to re-orientate your idea of why you should get a TIN and hopefully make the process of getting a TIN very easy for you.

What is TIN?

TIN is a unique number allotted to a duly registered taxpayer in Nigeria for the purpose of identifying an individual or an organization. Section 10, subsection 2 of the CIT acts which was amended in the 2019 finance acts states that Banks in Nigeria have been mandated to obtain TIN from both individuals or organizations before a business account can be opened up for them. It further goes ahead to state that, for individuals or Organizations who had opened up business accounts before this Act was set up, TIN information must be provided as a precondition to continue usage of their bank accounts. What this simply means is that you cannot run a registered business without your Tax Identification Number.

How do you get your TIN?

There are two types of Tax Identification Number creation;

  • TIN for Individuals
  • TIN for organizations

TIN for individuals

With the Joint Tax Boards website, you can get your tax Identification Number as swiftly as possible by simply logging onto their website www.JTB.gov.ng and registering. You would need the following information;

  • Utility Bill
  • Valid Identification Card
  • National Identification Number
  • Bank Verification Number

If you would rather do this offline, then all you have to do is visit any FIRS  (Federal Inland Revenue Service) office closest to you.

TIN for Organizations

Non-individuals; incorporated trustees, trade associations, cooperative societies, or LLCs can also register for their TIN on the JTB website. The documents you’d be needing include;

  • Certificate of incorporation
  • Director’s BVN
  • National Identification Number
  • Valid ID cards of all Directors

If you would prefer to do this process offline, you can visit any FIRS office closest to you. Ensure you have these documents with you. Once at the FIRS office, you’d be asked to do the following;

  • VAT registration form (001)
  • Tax registration Input form
  • You’d write a letter applying for Tax Identification Number.

The VAT registration form would typically contain the following information;

  • Name of company
  • Registered office address
  • Nature of business
  • Date of incorporation
  • Commencement date of the company
  • Particulars of major shareholders and directors
  • Name and address of auditors
  • Name and address of tax representative

Once the form is filled out and you have successfully applied, your company would automatically be profiled for tax registration. Once your request has been verified and approved, your Tax Identification Number would automatically be sent to your email address or you’d be required to pick up the hard copy from the FIRS office you registered in.

The tax Identification Number process is a seamless one. if the reason you haven’t gotten yours is that you haven’t found time, you can get your TIN quickly just by following the processes listed above. It is also quite pertinent to note that the JTB website has for some time been experiencing some problems with its servers, if you try registering online and it seems futile, visit any FIRS office closest to you.

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