This is a detailed guide on how to apply for Tax Identification Number (TIN).
Every business owner or worker in any organization is expected to have a Tax Identification Number.
This is what stands as proof that the individual or company pays tax.
Paying of Tax is compulsory for every business and working citizen of Nigeria, and has been enforced with a full penalty for defaulters.
There are procedures for getting the Tax Identification Number in Nigeria, and they must be taken seriously.
The process has been upgraded and more comfortable for business owners and individuals to easily get their Tax Identification Number.
If you wish to learn how to get TIN number from FIRS, or how to register for TIN, this guide will help.
In this guide, I will be showing you how to apply for Tax Identification Number (TIN) online.
How To Apply For Tax Identification Number Online
Getting a Tax Identification Number as an individual requires your Bank Verification Number (BVN) or Your National Identity Number (NIN).
The reason for this is that Tax Identification Number for Individuals are assigned uniquely to individuals based on those means of identification.
Please note that the above procedure doesn’t apply to companies, firms, groups, etc that want to get their Tax Identification Number.
To apply for Tax Identification Number online:
- visit the TIN online portal via tin.jtb.gov.ng
- Fill all the relevant information
Guidelines For Filling The Tax Identification Number Form
When filling the Tax Identification Number Form, the following guidelines should be observed.
1. Every section of the TIN form that is highlighted with the asterisk symbol * should be properly filled.
2. A correct email address is required for the registration process.
3. A phone number that is valid is also required for the registration process.
4. Ensure that the characters don’t exceed 200 words when filling your name and address column.
Requirements For Getting Tax Identification Number
The requirements for getting Tax Identification Number for both individuals and companies are different.
For Individuals
1. A properly completed Tax Identification Number form
2. A valid means of identification to ensure proper identification of the individual. This can be a drivers license, International passport, National Identity card, etc.
For Companies
Businesses or companies registered under the Corporate Affairs Commission of Nigeria will need the following to get a Tax Identification Number,
1. A properly completed Tax Identification Number application form.
2. A business name registration certificate that was issued by the Corporate Affairs Commission of Nigeria (CAC) during the company registration process.
Learn how to register a business name in Nigeria online.
3. Valid documents that contain details of the company including the location of the company and the date of start-up.
The next thing to do after presenting the above documents at the tax office is to update your Tax Identification Number.
This process only requires your valid email address and the phone number you filled on the form during the registration.
Verification
After doing all the above, the next thing is to verify your Tax Identification Number to ensure that it is in line with the demands for carrying out any form of business with any of the government bodies such as the National Agency For Food And Drug Administration And Control (NAFDAC), Central Bank Of Nigeria (CBN), etc.
When the company has been in operation for more than six months after registration with the Corporate Affairs Commission of Nigeria, Value Added Tax (VAT) and Company Income Tax (CIT) are both registered along with the Tax Identification Number.
Importance Of Tax Identification Number in Nigeria
As a company or an individual, having a Tax Identification Number is very important for the following reasons.
1. Tax Identification Number stands as proof that you pay your tax as an individual or as a company.
Without this form of identification, you will be seen as a defaulter in tax payment which is very compulsory in the Nigeria.
2. Having the Tax Identification Number makes it easier for you either as an individual or a company to be identified amongst other companies or taxpayers.
This puts you on the same platform with every other taxpayer whether individuals or companies.
3. It helps the government evaluate your contribution to the economic growth of the country.
In a situation whereby you decide to go public and attract shareholders alongside other investors, your tax payment record would need to be up to date.
4. Having the Tax Identification Number as a company protects you from tax-related problems with the authorities.
Being a company or firm and not have the Tax Identification Number means you don’t pay tax and that would attract severe penalties by law which could lead to a permanent shutdown of your company’s operations.
Cost of Applying For A Tax Identification Number
Getting your Tax Identification Number is Free when you choose to do the registration process yourself without the help of a third party.
The only instance where you end up spending money is when you employ the help of someone to fasten the process or you default in certain tax-related areas that require payments.
Getting your Tax Identification Number takes about 48 hours and nothing more after successful registration and request has been sent.
The registration can be done at any Federal Inland Revenue Service (FIRS) office.
That’s all on how to apply for Tax Identification Number. Also, learn how to register a business name in Nigeria online.
I hope this guide on how to apply for Tax Identification Number (TIN) helps?