How To Register For Tin Number Online

How to get a Tax Identification Number – TIN

What is a TIN?

The Taxpayer Identification Number (Can) is a unique number that identifies a specific private (or business) for the purposes of paying taxes. As tax payment is mandatory for all individuals and businesses, anybody needs to have a unique Tin can. However, this article volition deal with Tin for businesses.

Who needs a TIN?

As mentioned above since tax payment is compulsory, every business organisation must have its own unique TIN.

In July 2020, the CAC announced that upon successful registration of companies under Function A i.e. express liability companies, a Tin would be automatically assigned to the company. Nonetheless, the notification past the CAC does not cover other concern organisations east.g. business names, therefore organisations similar business names will notwithstanding take to register with the FIRS directly.

What practise you need information technology for?

Apart from registration for Tin being mandatory, there is a long listing of other things, which yous need a Tin can for:

Opening a corporate depository financial institution account – Section 28(1) of the Personal Income Taxation Act which was amended by the Finance Act 2020, states that 'a person engaged in banking shall require that a person intending to open a banking concern account for the purposes of the person's business organisation operations shall provide a revenue enhancement identification number as a precondition for opening or go along operating of such bank account'.
Government loans,
Foreign commutation,
Application for trade licenses, Import and export licenses
Registration of motor vehicles,
Application for certificate of occupancy, etc.

A TIN is too necessary to get a revenue enhancement clearance certificate for your business. Yous will need this every bit evidence that you are paying your taxes as due.

How practise yous utilize?

To obtain a TIN for a business already incorporated at the Corporate Affairs Commission, you will need to go to the Federal Inland Acquirement Service (FIRS) role that is closest to your registered address. You can find the locations on the FIRS website with the post-obit documents:

Memorandum & Manufactures of Clan
Certificate of Incorporation: CAC2, CAC7
Visitor seal
Utility bill
Application letter on company letter headed paper
Duly completed TIN Application form

Yous should take the original copy and ii photocopies of each document. The originals are required for sighting but, 1 copy will be left with the FIRS, and one copy will be stamped and signed by an FIRS official as evidence that yous take made an application.

If your concern is a registered business proper name, and not an incorporated company. In lodge to apply for TIN you need to employ for VAT registration, the VAT number you lot are provided with will be your Tin can registration number. Please jump to our article on how to register for VAT hither, to find out more than.

How much does it toll?

Applying for your Tin IS Complimentaryif you do it yourself.

Y'all practise not have to pay any fees to obtain information technology, and you do not demand to employ someone to utilise on your behalf. Yet, most people make up one's mind to engage the services of 3^rd parties to assist them in obtaining it.

How long does it accept to get my Tin can?

Ordinarily, the Tin should be given instantly or at about by the next solar day, still, information technology appears that a number of the FIRS offices are struggling with backlogs, and and so information technology is not uncommon for the procedure to drag on for most a week or in some instances 2 weeks.

Remember payment of tax is a civic duty. If you are doing business in Nigeria or intending to do business concern, you are expected to fulfill this necessary obligation and the outset step in this is obtaining your Can.

We hope you accept found this data helpful . Please note that this information is provided for general informational purposes only and is non intended to be legal advice. No lawyer-client relationship is formed nor should any such relationship be implied. This respond is not intended to substitute for the advice of a qualified lawyer. If you require legal advice, delight consult with a qualified lawyer .