As a citizen of any country, one of the things you are obligated to do that makes people not doubt your loyalty is by paying your tax. Tax evaders are not encouraged anywhere in the world. And one way you can boldly declare with your full chest that you are a law abiding citizen is by having a tax identification number.
Tax identification number in Nigeria is assigned to both individuals and businesses solely for tax purposes. It is a unique means of identification for tax payers.
TIN, as it is also referred to, is deemed mandatory for individuals and businesses considered taxable.
The Federal Inland Revenue Service is the body saddled with the responsibility of issuing TIN to taxable individuals and businesses for the purpose of facilitating tax remittance, payment, and compliance.
If you are interested in securing loans in Nigeria or have plans of registering a business in the country, getting a tax identification number is compulsory.
What is a Tax Identification Number?
You already know that a tax identification number is important to have as a taxpayer, however, you may just have the number without knowing its importance.
For a tax identification number, you can think of it as your mobile number which is assigned to just you! It carries your details that are distinct from anyone else.
TIN, as used in Nigeria, is numeric, unlike in some other countries where alphanumeric code is assigned to individuals and businesses. TIN helps the authority in charge of tax in the country to track taxpayers, verify tax payments, returns, and compliance.
As we previously stated, the format used in a particular country can be different, but that doesn’t mean that the standard is base. The aim is always to secure and facilitate tax payments; maintain accurate records, and by all means, prevent tax evasion.
How to Get Tax Identification Number in Nigeria
To get your tax identification number in Nigeria is easier than you think. It is not as complicated and rigorous as other registration processes. Whether you are registering as an individual or as a business owner, you have to pass through the Federal Inland Revenue Service.
Fortunately, the process can either be done online through the FIRS portal or in-person at FIRS offices in Nigeria.
We’ve compiled the list of documents required for tax identification number in Nigeria and they are identified as follows:
- National ID cards
- International passports
- Driver’s license
- Utility bill
- Certificate of incorporation
- Business registration documents
- Tax clearance certificate
- Memorandum and Articles of Association
Alternative Method for Obtaining Tax Identification Number in Nigeria
The alternative methods can be utilised for a swift process if you are unable to use the FIRS website.
Visit the FIRS office
Obtain the tax identification number application form and fill in the details as required
Submit the completed form alongside the required documents
Receive your Tax Identification Number (TIN) instantly or within 24 hours.
It is important to note that Tax Identification Number registration is free in Nigeria. You can verify your number by visiting the FIRS website, click on ‘TIN Verification ‘ and enter the tax identification number to verify your status.
Will you be getting your tax identification number soon? Let’s know in the comment section. And if you already got yours, do share your experience with us!
