Having a Tax Identification Number is compulsory for all businesses in Nigeria. It is a legal requirement to have a TIN number if you want to open a business bank account. If you are a business owner who wants to learn how to get TIN in Nigeria for your limited liability company or a sole proprietorship (business name), we’ve created this guide for you.
After reading this guide, you will learn about a Tax Identification Number, how to register for TIN whether you run an LLC or sole proprietorship, how to verify your TIN and also how you can get your TIN easily on the Prospa app.
Mudah Untuk Proses Pendaftaran title=Tax Identification Number: How To Get TIN Number In Nigeria In 2022 style=width:100%;text-align:center; onerror=this.onerror=null;this.src='https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcSP5oT8qjrNiVshXLqlesjvEdQ4qF_hN44ytgU31aNI70GAL-jFOyfan2NTCUQuKyQ4koI&usqp=CAU'; />
The Taxpayer Identification Number (TIN) is a unique number that identifies you or your business for the purposes of paying taxes. In a bid to make it easier for Nigerian freelancers and businesses to register for TIN we’ve written this guide.
How To Check For Your Individual Tin (tax Identification Number) Online
As an entrepreneur with plans to build a prosperous business, it’s important to make sure all your legal responsibilities are met. Just as the BVN, Voter’s ID and National ID are used to grant you access to some government services, not having a TIN can curtail you in growing a business.
In accordance with Section 10, subsection 2 of CIT Acts, as amended in the 2019 Finance Acts, Nigerian banks must obtain Tax Identification Numbers (TIN) from both individual and corporate entities before opening accounts. You can’t access business loans from banks or government institutions.
Also read: How To Create a Professional Invoice – A Step-by-Step Guide How to get a TIN in Nigeria for your business
Nov Xe Dark
The first step to getting a TIN in number is to register your business with the Corporate Affairs Commission (CAC). Business registrations used to require going to CAC offices or working with agents, but you can now do it online. If you want to register your business fast and have a business bank account automatically opened for you once your business registration is complete then using the Prospa app for your CAC business name registration is the best option for you.
You can register your business, get your TIN and open a business current account on the app.To get started, tap on the image below:
To make tax payments easier in Nigeria, the government has created systems that can automate the process. In 2020, the CAC announced that tax identification numbers will now be listed on CAC certificates for incorporated companies. So, if you registered your limited liability company in 2020, your TIN is listed at the bottom of your CAC certificate.
Citronella Essential Oil
However, if you registered your company before 2020 and have not applied for a TAX registration number, you can either go to a FIRS office near you or apply online through the Joint Tax Board. To apply online, go to https://tin.jtb.gov.ng/TinRequestExternal
Sole proprietors; those who only registered their business names, do not get a tax identification number on their certificates. As a result, you will need to go to a tax office or use the same link to apply through the Joint Tax Board
No. The Joint Tax Board was created to unify the taxpayer system. It created an easier way to apply for taxes and also eliminates the need to have multiple IDs for tax payments.
Off Da Island In Hobbiton, New Zealand
Your Tax Identification Number identifies you as a legal business in Nigeria. You can apply for it online through the Joint Tax Board. However, if you are looking for a quick and easy service to set up your business accounting, sign up on Prospa to register your business, get a TIN and open a business current account in minutes.
Getprospa.com is a property of Prospa Technology Limited, a company duly registered under the law of the Federal Republic on Nigeria with RC Number: 1594615. Account number to all accounts opened on our platform are provided by Providus Bank Pls, a company duly registered under the law of the Federal Republic of Nigeria with RC Number:198892 and duly licensed by the Central Bank of Nigeria. Prospa Technology Limited © 2021The Nigerian Taxpayer Identification Number (TIN) is a unique number assigned to a registered tax-paying entity (individual or company). The number is unique to every taxpayer and can only be used by the person or company to whom it is registered. The number is usually issued by the Federal Inland Revenue Service (FIRS) upon successful registration as a taxpayer. Have you been trying to figure out how to get TIN number in Nigeria? Here is a complete guide.
The FIRS is responsible for assessing, collecting, and accounting for the money collected in taxes as well as other revenue accruing to the Nigerian government. Therefore, all Nigerian individuals and companies that sell products or services, work for the government, other public entities, private companies, or freelance systems are required by law to have a Taxpayer Identification Number.
The Saga Of The North Shore
No, the entire application process is free of charge. The application process is quite straightforward and only requires you to visit an FIRS office (for individuals). You will be asked to fill out the application form in three copies. You will not have to pay anything.
How do I apply for a TIN? Typically, applicants are either individuals or companies. Here is how to get a TIN number for the different types of entities.
Recently, the government made it possible for individuals to have an automatic TIN once they get their BVN (Bank Verification Number) or NIN (National Identity Number). One can check whether they have been automatically assigned a TIN via the verification portal.
Pdf) Human Activity And Forest Degradation Threaten Populations Of The Nigeria Cameroon Chimpanzee (pan Troglodytes Ellioti) In Western Cameroon
Non-individuals such as limited liability companies, incorporated trustees, enterprises, cooperative societies, MDAs, and trade associations are required to apply for TIN online. Here is a look at how to get a Tax Identification Number online in Nigeria.
Those trying to figure out how to get TIN number online in Nigeria often want to know what documents they will be required to present.
One must present the original and two copies of each document. The originals are only required for sighting and verification. One copy is left with the FIRS, while another will be signed and stamped by an FIRS official as proof of your application.
Hoyle Classic Card Games
If you have been trying to figure out how to get TIN Number in Nigeria, this guide has you covered. For individuals, the process just got easier with the automatic TIN allocation. For non-individuals, the online application process is also quite straightforward.
Recently published a guide to writing the perfect application letter for a job. An application letter is the first correspondence you are going to have with your potential future employer. An employer will almost certainly judge you based on your application letter.
Your application letter must stand out since employers usually deal with numerous applications for a single vacant position. How do you come up with the perfect application letter, and what do you include?