TAX IDENTIFICATION NUMBER (TIN) – How to apply for your Tax Identification Number, Why you need a Tax Identification Number, How to get TIN for free…See more details below.
Every individual in Nigeria who sells products and services, runs his or her own business, this directly/indirectly means that you are working for the government, public or private enterprise or involved into a free-lance system and as such, as to know details about TIN. Know how to Register/apply for Tax Identification Number in Nigeria, and its important.
Recently, we are being told that, from January 2020, without getting a TIN, you can’t carry out any transaction with the bank, as such, it is very important to get the TIN to avoid inconvenience.
Tax Identification Number
TIN is an essential document in every individual and businessperson’s life. You will have to complete the application form for Tax Identification Number in Nigeria and submit it to the Nigerian Federal Inland Revenue Service (NFIRS).
NFIRS was Established in 1943. It is designed to operate a well-organized tax system in the country. TIN identifiers are used by establishments and individual people for the goal of tax payment. Each working person has to apply for the Tax Identification Number.
Requirements for Tax Identification Number in Nigeria
- It is free of charge to complete and submit the official application form for Tax Identification Number in Nigeria. Besides, it is a legal obligation of each Nigerian. You are expected to pay taxes if you live and work in your home country.
- Below are the neccessary requirements for the Tax Identification Number :
- Your TIN has to be Join Tax Board TIN only.
- You have to make sure the address and name lines include no more than 200 characters (per each field).
- Providing 11-digit phone numbers is necessary.
- Each applicant has to provide an active email address.
- You need to fill out all the fields marked as * in the TIN application form.
- Only the official taxpayer can use his or her TIN (no third party persons are allowed).
- Usually, you don’t have to apply for TIN if you are an incorporated trustee (but laws can change, so double check this information at NFIRS office).
- Each Nigerian should get TIN if his or her firm receives income and profit.
- Validating your TIN on the official NFIRS site www.tinverification.jtb
- .gov.ng is easy.
Why you need Tax Identification Number
- It is required when you apply for the government loan.
- It is must have when you wish to open a business account.
- It is must have if you need an import, export or trade license.
- It is necessary when you register your vehicle.
- It is needed for getting tax clearance, allowance, waiver, incentive.
- It is must have if you are planning to import your capitals into a foreign country.
How to apply for TIN number in Nigeria
Fill out the TIN application form.
Provide your business registration number: Business Name Registration Certificate or Certificate of Incorporation.
Provide the company’s business address, location and commencement’s date as well as other information required by the form.
Follow this step by step guide and you will be issued your tax identification number:
1. Complete the Application form for your TIN.
2. Provide your ID document (It can be your National ID card, International passport or staff ID).
3. Provide your physical address, phone number, and other information required.
It usually takes up to 10 business days from the moment you submit your application for Tax Identification Number in Nigeria and the day you get TIN. Still, these terms can vary. Sometimes it is quicker, sometimes it can take longer (even for 1-2 months).
When your TIN is ready you should be notified.
P.S. Once again, it is absolutely FREE of charge to receive your TIN in Nigeria, if you apply by yourself. Since this process is extremely simple, you can complete the application procedure on your own. You just need to visit your NFIRS office and request the TIN application form typically, you will be asked to fill out three copies.
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