As provided by the law, the taxpayer’s identification number, TIN and the tax clearance certificate are very important documents needed for various reasons in Nigeria. Whether you are a civil servant or a business person, you need a taxpayer’s identification number because many transactions in Nigeria shall depend on the possession of a valid TIN.
Tax is a fee or a levy charged by the government on a product, sales, income or activity. Taxation is one of the avenues that government generates revenues to run her day-to-day activities. If you are doing business in Nigeria or intending to do business, you are expected to fulfil this necessary obligation of paying tax to the government.
Currently, there is an improvement in the Nigerian taxing system with the provision of taxpayer’s identification number which enable the taxpayers to be able to manage their account any where in the country. According to Joint Tax Board “Taxpayer Identification Number (TIN) is an initiative of the Joint Tax Board and it is basically an electronic system of tax registration, which would be unique to identify taxpayers for life”. How do you get this tax payer’s identification number, TIN. I will outline the step-by-step guide that will help you to do so.
Why you should get Taxpayer’s Identification Number?
Like I earlier said, the taxpayer’s identification number is needed for various reasons in Nigeria. These include:
How to Get Tax Identification Number, TIN in Nigeria
Getting a tax payer’s identification number in Nigeria is easy as there is no hassle in any form and it is free of charge. The step-by-step guide is as follows:
The benefits of getting Tax Payer’s Identification Number
With a valid tax payer’s identification number, the taxpayers now have ease of access to information about his tax status anywhere around the world, thus, avoiding incidence of double or multiple taxation.
Taxpayer’s identification number, TIN is unique to each taxpayer in the country and may be quoted for all tax purposes nationwide. Concerning the enormous benefits, it is therefore in the interest of every Nigerian to go get their TIN today.