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
(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:
Visit the nearest FIRS office
Request for the relevant documents or forms involved
Fill the forms correctly
Return the completely filled form to FIRS
Present your valid ID card e.g International passport, National ID card, Voters Card or Drivers license
Submit your passport and fingerprints
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.
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:
Government loans
Foreign exchange
Tax clearance certificate
Opening corporate account
Application for certificate of occupancy
Application for trade, import and export licenses
Registration of Motor Vehicles

Source: Entrepreneur  


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