TIN: Tax payment is compulsory for every business owner in Nigeria, as well as employed Nigerian citizens. However, it is impossible to pay your tax or open a corporate bank account without your tax identification number See Also: FG-CAC Business Name Free Registration Portal
(TIN). So, in this article, we will take you through the process of how to get TIN in Nigeria, either as an individual or a company.
Generally speaking, to get your TIN in Nigeria, all you need to do is:
Nevertheless, we have broken down this process to answer the frequent questions people ask about tax identification number. Ensure you read till the end.
What is Tax Identification Number (TIN)?
Basically, TIN is a unique number given to an individual, a registered business or incorporated companies for the purpose of tax payment. Usually, the number is issued by the tax office for proper identifications and
order.
See Also: Federal Government Jobs Recruitment 2022 – Full List of FG Job Vacancy in 2022
Why Should I get A TIN?
TIN is the prove you have to show that you are a registered tax payer in Nigeria. In addition to that, TIN helps you to avoid double taxation because your payment can be traced and verified.
Not only that, TIN is required for:
See Also: FG Special Public Works Recruitment 2022 – Apply Now
How Can I Get A TIN In Nigeria As An Individual?
According to the joint tax board, if you are an individual, you are automatically assigned a TIN based on your Bank Verification Number or National Identity Number. In other words, to get a TIN as an individual, BVN or NIN is a major requirement.
Alternatively, you can visit FIRS office with the following requirements:
See Also: Apply For:- Multinational & International Job Vacancies
How Can I Get A TIN In Nigeria As A Non Individual?
Non individuals include limited liability companies, enterprises, co-operative society, trade associations etc. So, to get your TIN, you can visit the closest tax office to where your company is located with the following
document:
See Also: United Nations Young Professionals Programme 2022 (Launch Your Career at the United Nations) – APPLY
Please note that you will need both the originals and two extra copies of the listed documents. The originals are only needed for sighting.
Also, if you registered as a business name and not a limited liability company, you will need to provide the following:
Normally, you can apply for TIN within six month of incorporating your company. But, it is advisable to apply immediately the business is registered.
On the other hand, non individuals can register for their TIN online by visiting https://tin.jtb.gov.ng/. Note that before you can request for a TIN number as a corporate body, your business has to be registered with corporate affairs commission (CAC).
How Long Does It take to Get A TIN In Nigeria?
Usually, it takes 10 working days after submitting your TIN application. However, due to the backlogs in FIRS, it can take longer than the usual time frame.
If you register online via joint tax board, your TIN number will be generated within 48 hours after your TIN request has been submitted.
How Much Does It Cost To Get A TIN In Nigeria?
TIN is free if you do it yourself. But, if you decide to engage the service of a third party, you will need to pay for the person’s service charge.
How Can I Verify My TIN?
It is important that you verify your tax identification number once you receive it. To do that, visit firs.gov.ng and click on TIN Verification then go to the search form, you will be given three options:
See Also: What you need to know about NPower Recruitment 2022
What Do I Need To Open A Corporate Bank Account In Nigeria?
Apart from that, GT Bank for example requires a N5,000 payment to verify your CAC documents. The amount, however, varies with the different banks.
To verify your TIN, CLICK HERE
Kindly subscribe to the site using your Email address for more updates for FREE
Ascentech Services Limited is a full-fledged Human Resource Solution Provider incorporated in 2013 with its…
CIIBEX Group Limited is a holding name for an indigenous conglomerate which comprises of eight…
The International Committee of the Red Cross (ICRC) is an impartial, neutral and independent organization…
NNPC Ltd/ TotalEnergies International Masters Degree Scholarship - 2024-2025. TotalEnergies is a global multi-energy company…
Seven-Up Bottling Company Limited is one of the largest manufacturing companies in Nigeria, producing and…
Jumia is Africa's leading internet group, with already over 3,000 employees in more than 20…