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What is Tax Identification Number (TIN)?

The Taxpayer Identification Number (TIN) is a unique number allocated and issued to identify a person (individual or Company) as a duly registered taxpayer in Nigeria. It is to be used by that taxpayer alone. Registration for tax purposes is a legal obligation of every person who is required to pay tax in Nigeria.

After you must have registered and commenced your small business, you must have an understanding of tax issues in Nigeria. The first thing is for you to visit the tax office and apply for Tax Identification Number (TIN) and VAT registration. At Tax Office, you will obtain the VAT Registration Form (001) and the Taxpayer Registration Input Form. You are also expected to apply for Income Tax registration and another one for VAT Registration using your company’s letter-headed paper. The application for Income Tax Registration will basically provide answers to the questionnaire below:

• Name of Company
• Registered Office
• Business Address
• Precise Nature of Business
• Date of Incorporation
• Date the Company Commenced Business
• Accounting Date
• Name and Address of Banker(s)
• Particulars of Major Shareholders
• Particulars of Directors
• Name and Address of Auditors
• Name and Address of Tax Representative

It is the information you provide that the tax authority will use to profile your company for tax registration. The second application which will be on your company’s letterhead paper is for VAT Registration as mention above. The applications should be duly signed by you or any authorized company’s registration.

Read Also: Withholding Tax in Nigeria (Administration and Rates)

As part of the documentation, you are required to submit the following document:

• Two copies of Certificate of Incorporation. You are to bring the original for sighting.
• One copy of Certified True Copy of Memorandum and Articles of Association
• One copy of Form CAC 2 (CO2) and CAC 7 (CO7)

If your documentation is complete, you will then be issued a Tax Identification Number (TIN). This can be completed immediately.  At times, it may take few days depending on some factors such as the volume of application received, availability of power supply, and access to the network.

You are required to supply your Tax Identification Number (TIN) each time you have anything to do with the tax office. Tax Identification Number (TIN) is now one of the requirements for opening a business bank account.

You will also be issued a permanent VAT registration number and this qualifies you to become a VAT agent. Your Tax Identification Number (TIN) and VAT registration number have to be displayed on all your invoices. Please note the Federal Inland Revenue Service now operates Integrated Tax Office which means that you can collect your Tax Identification Number (TIN) and VAT registration certificate in the same tax office. While individuals can handle this on their own, it is advisable that you engage a tax consultant to help you handle your tax matters.

This article is made available by OTN Consulting. The firm helps companies plan and file their taxes such as VAT, Withholding Tax, PAYE, Company Income Tax, and Educational Tax. The firm can also help you sort out your tax back duty and ensure you obtain your Tax Clearance Certificate.

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