The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele has emphasized the importance of a Tax Identification Number (TIN) for all taxable entities.
Without it, bank accounts may face restrictions.
Here’s how to get yours.
For Individuals: A TIN is a unique identifier issued by the Federal Inland Revenue Service (FIRS) or Joint Tax Board (JTB).
To apply, visit jtb.gov.ng, where you can register online using your Bank Verification Number (BVN) or National Identification Number (NIN).
Simply provide your details, submit, and receive your TIN via email—free of charge!
This ensures compliance and access to financial services.
For Businesses: Companies or enterprises must visit an FIRS office with original and copied registration documents (e.g., CAC certificates).
Sole proprietors may also need to register for VAT, linking it to their TIN.
The process, also free, may take a few days. This step is crucial for tax filing, government contracts, and economic growth.
Act now to avoid disruptions. For assistance, contact FIRS at firs.gov.ng or local offices.
Understanding and obtaining a TIN is a gateway to financial stability and national development in Nigeria’s evolving economy.
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