How To Apply For A Tax Identification Number (TIN) In Nigeria. we have been receiving a lot of calls in new times about how to request for TIN in Nigeria. You will find in here all a minute stairs we need to know to request for your taxation marker number.
This is going to be a prolonged read, though greatfully take out time to review this given we NEED IT!
How to request for TIN
Are we a Nigerian citizen operative for a private classification or with a government. You possess a business or we have a goal to start one? It is critical that we know what a taxation marker series is, and not usually know though we also possess one.
A lot of tiny business owners trust that registrating their companies, business names with a CAC is all they need to be famous as critical business men/women. However for an entity to be famous in Nigeria, it goes approach over induction with a CAC, though also induction for tax.
I have been receiving a lot of calls in new times about how to request for TIN in Nigeria. You will find in here all a minute stairs we need to know to request for your taxation marker number.
How to request for TIN?
Are we a Nigerian citizen operative for a private classification or with a government. You possess a business or we have a goal to start one? It is critical that we know what a taxation marker series is, and not usually know though we also possess one.
A lot of tiny business owners trust that registrating their companies, business names with a CAC is all they need to be famous as critical business men/women. However for an entity to be famous in Nigeria, it goes approach over induction with a CAC, though also induction for tax.
I have your courtesy right? Let’s start with identifying what accurately is a taxpayer marker series (TIN).
What is a TIN?
The taxation marker series (TIN) is a singular identifier for an particular or a association for a specific purpose of taxation remittance. The TIN series is prepared by a taxation bureau and released to people or purebred business / incorporated companies for correct marker and verification.
Why do we need a TIN?
As a business or individual, TIN is critical since that is what shows that we are a purebred taxation payer in Nigeria, and as we know that taxation remuneration is done compulsory, each company, business, particular contingency have their possess singular taxation marker number. After execution of registration with a taxation office, a entity or particular is released a TIN.
Remember that registration for taxation is a authorised requirement for everybody who is compulsory by LAW to subtract taxes in Nigeria.
If your association or business operates for distinction and income is generated from Nigeria, afterwards we are compulsory by law to request for TIN. Please note that incorporated curators DO NOT need TIN! Take note of THIS!
Do we hear we ask again, because we need a TIN?
What else do we need a TIN for detached from taxation identification?
There are other critical things that a TIN can be used for detached from identifying a business or particular as a purebred taxation payer. These things are equally critical as well:
1. Opening a of business account
2. Application for supervision loans
3. For unfamiliar sell and receipt of collateral importation into a country
4. A TIN is compulsory for licenses relating to trade, import and export
5. Registration of cars
6. Certificate of occupancy application
7. To obtain a Tax clearway certificate for people and companies that shows that we are a taxation agreeable business
8. To obtain taxation incentives, taxation waivers and certain taxation allowances. Remember a new colonize inducement given to TSTV Africa?
How most will it cost me to request for my TIN?
Applying for TIN is totally giveaway IF YOU DO IT ON YOUR OWN and if we have not incurred any taxation chastisement formed on a time-frame given according to a LAW to obtain your TIN, possibly as an particular or as a company. There are no fees to be paid unless we intend to occupy third parties to support we in induction and receiving a TIN.
There could be a lot of bottlenecks in a behind and onward concerned in liaising with a taxation authorities for a receipt of your TIN. It will be improved to change a responsibilities on a third celebration so we can concentration on some-more vital aspects of a business.
Application for TIN as a purebred company
All registration statements have been done by a Joint taxation house on induction for a TIN. If we are also a tech savvy business person, we can do all your TIN registration online by checking a FIRS use platform.
You need to know a several papers we would need to request for TIN as a association already incorporated. Head over to a Federal Inland Revenue Service bureau closest to your company’s purebred residence in a list that is here, with certain documents.
For Registered business names
Also, if we are a purebred business name and not an incorporated company. Then we need to request for your TIN around a VAT registration, there was a new joint by a FIRS bureau whereby your VAT series will double as your TIN registration number.
Also, in some situations, registration for TIN also comes concurrently as registration for companies income taxation and also value combined taxation as settled above. This can be probable if your incorporated business or association has been in operation within 6 months.
As shortly as we accept your TIN, this should be displayed on all your central papers generally instruments of business/ financial exchange like your invoices. This is intensely pivotal and critical in a eventuality of a taxation review by any of a taxation offices. The fact that a taxation bureau now operates an integrated taxation bureau now creates all easy for taxation payers.
How to request for TIN: Individuals
Application for TIN as an individual
You have to conduct over to a nearest Inland Revenue Office along with a strange and photocopies of your inhabitant famous ID label like your driver’s license, permanent voters’ card, International pass etc.
You will also be compulsory to finish and contention an focus form.
PLEASE NOTE THAT THE TIN OF AN INDIVIDUAL IS DIFFERENT FROM THE TIN FOR A BUSINESS NAME OR A INCORPORATED COMPANY.
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