₦airaland Forum

As law abiding citizens, it is incumbent upon you as a matter of legal obligation and due process to register your business, company and NGO (churches & Associations) whichever applicable. We are available to serve you in this regard. For enquiries,please call/WhatsApp: 08037653364

deturla:
TIN collection triggers other statutory filings like VAT etc.

What do you mean commenced in full gear? Have you started any monetary transaction?

That's what I meant. Have not started any formal financial transactions. If I may ask... A what point will my tax remittance becomes necessary? Is it monthly or quarterly or yearly?

FIRS no dey try, we should be able to register for TIN online without physical appearance at their office.

And this same FG is talking and promoting easy of doing business.

Nice info

Are online freelancers and bloggers who work from home required to pay tax or get TIN?

How can someone that already have TIN with business name formally notify FIRS and CAC for closure of business?

How can someone be paying tax to a government where there is no accountability. You heard of the recent trillions misappropriated in NNPC. The ikoyi gate is still fresh in our memories. And you expect us to continue funding this purse?

if your child loses all his pocket money to betnaija, you will give him more abi?

I did mine early 2013, it only came out last year, Nigeria is just something else

deepwater:
Did national ID card since 2014
E never come out.
TIN ko. Kpangolo ni.

deturla:
An individual TIN is separate from a business TIN.
Cheers.

many tanks!

deturla:
I have been receiving a lot of calls in recent times about how to apply for TIN in Nigeria. You will find in here all the detailed steps you need to know to apply for your tax identification number.

This is going to be a long read, but please take out time to read this since you NEED IT!

How to apply for TIN

Are you a Nigerian citizen working for a private organization or with the government. You own a business or you have the intention to start one? It is important that you know what a tax identification number is, and not only know but you also possess one.

A lot of small business owners believe that registrating their companies, business names with the CAC is all they need to be known as serious business men/women. However for an entity to be recognized in Nigeria, it goes way beyond registering with the CAC, but also registering for tax.

I have been receiving a lot of calls in recent times about how to apply for TIN in Nigeria. You will find in here all the detailed steps you need to know to apply for your tax identification number.

How to apply for TIN?

Are you a Nigerian citizen working for a private organization or with the government. You own a business or you have the intention to start one? It is important that you know what a tax identification number is, and not only know but you also possess one.

A lot of small business owners believe that registrating their companies, business names with the CAC is all they need to be known as serious business men/women. However for an entity to be recognized in Nigeria, it goes way beyond registering with the CAC, but also registering for tax.

I have your attention right? Let’s start with identifying what exactly is a taxpayer identification number (TIN).

What is a TIN?

The tax identification number (TIN) is a unique identifier for an individual or a company for the specific purpose of tax remittance. The TIN number is prepared by the tax office and issued to individuals or registered business / incorporated companies for proper identification and verification.

Why do I need a TIN?

As a business or individual, TIN is important because that is what shows that you are a registered tax payer in Nigeria, and as you know that tax payment is made compulsory, every company, business, individual must have their own unique tax identification number. After completion of registration with the tax office, the entity or individual is issued a TIN.

Remember that registration for tax is a legal obligation for everyone who is required by LAW to remit taxes in Nigeria.

If your company or business operates for profit and income is generated from Nigeria, then you are required by law to apply for TIN. Please note that incorporated trustees DO NOT require TIN! Take note of THIS!

Do I hear you ask again, why you need a TIN?

What else do I need a TIN for apart from tax identification?

There are other important things that a TIN can be used for apart from identifying a business or individual as a registered tax payer. These things are equally important as well:

1. Opening a of business account
2. Application for government loans
3. For foreign exchange and receipt of capital importation into the country
4. A TIN is necessary for licenses relating to trade, import and export
5. Registration of cars
6. Certificate of occupancy application
7. To obtain the Tax clearance certificate for individuals and companies which shows that you are a tax compliant business
8. To obtain tax incentives, tax waivers and certain tax allowances. Remember the recent pioneer incentive given to TSTV Africa?

How much will it cost me to apply for my TIN?

Applying for TIN is totally free IF YOU DO IT ON YOUR OWN and if you have not incurred any tax penalty based on the time-frame given according to the LAW to obtain your TIN, either as an individual or as a company. There are no fees to be paid unless you intend to employ third parties to assist you in registering and obtaining the TIN.

There could be a lot of bottlenecks in the back and forth involved in liaising with the tax authorities for the receipt of your TIN. It will be better to shift the responsibilities on a third party so you can focus on more strategic aspects of the business.

Application for TIN as a registered company

All registration statements have been made by the Joint tax board on registering for the TIN. If you are also the tech savvy business person, you can do all your TIN registration online by checking the FIRS service platform.

You need to know the various documents you would need to apply for TIN as a company already incorporated. Head over to the Federal Inland Revenue Service office closest to your company’s registered address in the list that is here, with certain documents.

For Registered business names

Also, if you are a registered business name and not an incorporated company. Then you need to apply for your TIN via the VAT registration, there was a recent unification by the FIRS office whereby your VAT number will double as your TIN registration number.

Also, in some situations, registration for TIN also comes simultaneously as registration for companies income tax and also value added tax as stated above. This can be possible if your incorporated business or company has been in operation within six months.

As soon as you receive your TIN, this should be displayed on all your official documents especially instruments of business/ financial transactions like your invoices. This is extremely key and important in the eventuality of a tax audit by any of the tax offices. The fact that the tax office now operates an integrated tax office now makes everything easy for tax payers.

How to apply for TIN: Individuals

Application for TIN as an individual

You have to head over to the nearest Inland Revenue Office along with the original and photocopies of your national recognized ID card like your driver’s license, permanent voters’ card, International passport etc.

You will also be required to complete and submit an application form.

PLEASE NOTE THAT THE TIN OF AN INDIVIDUAL IS DIFFERENT FROM THE TIN FOR A BUSINESS NAME OR A INCORPORATED COMPANY.

https://www.taxprof.com.ng/how-to-apply-for-tin-in-nigeria/


,

Tin takes just 24 hours at times the same day.. You would how ever be required to go along with you company seal so as to affix the seal there and just a photocopy of your company reg certificate which was issued by c.a.c

I how ever don't k ow y those pple don't have a standard firm some will give you a single form that's all whilst others will give you more than one form to fill

Its really very easy and straight forward ..I had to add this becasue your long essay kinda made it look complicated


SAD THING IS THAY MANY CIMPANY OR BUSINESS VENTURES SUCH AS KIOSKS,BOUTIQUES,RESTAURANTS REFUSE TO GET OR SIMPLYCACT IGNORANT OF IT WHILST SOME VEKIEVE IT OR NOT HAVE NO IDEA OF IT AND I DONT BLAME THEM..ITS FIRS JOB TI GO ROUND AND APPROACH ALL THESE SMALL SCALL BUSINESSES.. IT SHA HURTS THAT WE PAY TAX AND YET GOOD ROADS ARE A LUXURY

dyoung4:
How can someone that already have TIN with business name formally notify FIRS and CAC for closure of business?

Please you can send me a PM or contact the closest chartered accountant near you for this.

Cheers.

narutop:
Are online freelancers and bloggers who work from home required to pay tax or get TIN?

Is your business registered?

If yes, then you are captured under the registration.

jcflex:
FIRS no dey try, we should be able to register for TIN online without physical appearance at their office.

And this same FG is talking and promoting easy of doing business.

There is online registration. You can check that out on this same post on the BLOG.

deturla:
I have been receiving a lot of calls in recent times about how to apply for TIN in Nigeria. You will find in here all the detailed steps you need to know to apply for your tax identification number.

This is going to be a long read, but please take out time to read this since you NEED IT!

How to apply for TIN

Are you a Nigerian citizen working for a private organization or with the government. You own a business or you have the intention to start one? It is important that you know what a tax identification number is, and not only know but you also possess one.

A lot of small business owners believe that registrating their companies, business names with the CAC is all they need to be known as serious business men/women. However for an entity to be recognized in Nigeria, it goes way beyond registering with the CAC, but also registering for tax.

I have been receiving a lot of calls in recent times about how to apply for TIN in Nigeria. You will find in here all the detailed steps you need to know to apply for your tax identification number.

How to apply for TIN?

Are you a Nigerian citizen working for a private organization or with the government. You own a business or you have the intention to start one? It is important that you know what a tax identification number is, and not only know but you also possess one.

A lot of small business owners believe that registrating their companies, business names with the CAC is all they need to be known as serious business men/women. However for an entity to be recognized in Nigeria, it goes way beyond registering with the CAC, but also registering for tax.

I have your attention right? Let’s start with identifying what exactly is a taxpayer identification number (TIN).

What is a TIN?

The tax identification number (TIN) is a unique identifier for an individual or a company for the specific purpose of tax remittance. The TIN number is prepared by the tax office and issued to individuals or registered business / incorporated companies for proper identification and verification.

Why do I need a TIN?

As a business or individual, TIN is important because that is what shows that you are a registered tax payer in Nigeria, and as you know that tax payment is made compulsory, every company, business, individual must have their own unique tax identification number. After completion of registration with the tax office, the entity or individual is issued a TIN.

Remember that registration for tax is a legal obligation for everyone who is required by LAW to remit taxes in Nigeria.

If your company or business operates for profit and income is generated from Nigeria, then you are required by law to apply for TIN. Please note that incorporated trustees DO NOT require TIN! Take note of THIS!

Do I hear you ask again, why you need a TIN?

What else do I need a TIN for apart from tax identification?

There are other important things that a TIN can be used for apart from identifying a business or individual as a registered tax payer. These things are equally important as well:

1. Opening a of business account
2. Application for government loans
3. For foreign exchange and receipt of capital importation into the country
4. A TIN is necessary for licenses relating to trade, import and export
5. Registration of cars
6. Certificate of occupancy application
7. To obtain the Tax clearance certificate for individuals and companies which shows that you are a tax compliant business
8. To obtain tax incentives, tax waivers and certain tax allowances. Remember the recent pioneer incentive given to TSTV Africa?

How much will it cost me to apply for my TIN?

Applying for TIN is totally free IF YOU DO IT ON YOUR OWN and if you have not incurred any tax penalty based on the time-frame given according to the LAW to obtain your TIN, either as an individual or as a company. There are no fees to be paid unless you intend to employ third parties to assist you in registering and obtaining the TIN.

There could be a lot of bottlenecks in the back and forth involved in liaising with the tax authorities for the receipt of your TIN. It will be better to shift the responsibilities on a third party so you can focus on more strategic aspects of the business.

Application for TIN as a registered company

All registration statements have been made by the Joint tax board on registering for the TIN. If you are also the tech savvy business person, you can do all your TIN registration online by checking the FIRS service platform.

You need to know the various documents you would need to apply for TIN as a company already incorporated. Head over to the Federal Inland Revenue Service office closest to your company’s registered address in the list that is here, with certain documents.

For Registered business names

Also, if you are a registered business name and not an incorporated company. Then you need to apply for your TIN via the VAT registration, there was a recent unification by the FIRS office whereby your VAT number will double as your TIN registration number.

Also, in some situations, registration for TIN also comes simultaneously as registration for companies income tax and also value added tax as stated above. This can be possible if your incorporated business or company has been in operation within six months.

As soon as you receive your TIN, this should be displayed on all your official documents especially instruments of business/ financial transactions like your invoices. This is extremely key and important in the eventuality of a tax audit by any of the tax offices. The fact that the tax office now operates an integrated tax office now makes everything easy for tax payers.

How to apply for TIN: Individuals

Application for TIN as an individual

You have to head over to the nearest Inland Revenue Office along with the original and photocopies of your national recognized ID card like your driver’s license, permanent voters’ card, International passport etc.

You will also be required to complete and submit an application form.

PLEASE NOTE THAT THE TIN OF AN INDIVIDUAL IS DIFFERENT FROM THE TIN FOR A BUSINESS NAME OR A INCORPORATED COMPANY.

https://www.taxprof.com.ng/how-to-apply-for-tin-in-nigeria/


,

Thanks for the post,am having problem with TIN collection, i have a registered company already, when i got to osogbo TIN office i was asked to bring TAX CLEARANCE, I went to clearance office/local gov where the company was located , i was asked to pay 55k for tax clearance.

oluemmakay:
Good Day Sir, I have an Incorporated company and have also obtained my TIN, but have not really commenced business in full gear. At what point am I expected to remit tax?

You're expected to start filing tax returns once your company is registered. As tax is paid on earnings, you will only pay tax when you earn money. Meanwhile, filing of VAT MUST commence immediately, failure will attract 25k for late registration and additional 5k for every month of default.

Virtualaccountant.ng helps small businesses comply with regulatory requirements at ridiculously reduced prices.

gidimasters:
As a business owner[Sole proprietor], Must I register for individual TIN and business TIN? deturla

You don't need a separate TIN as an individual if you've a business registered as a sole proprietor. The law sees you and the business as one. Separate TINs will he required if you run a Limited Liability company.

Virtualaccountant.ng helps SMEs comply with tax and other regulatory compliances.

tobimillar:
What's the monthly or yearly estimate for a registered coy with vac whose profit monthly is less than 10k ? Bottom line how is the tax calculated

Hi Tobi,
The tax rate for a limited liability company is 30% while that of an individual/sole proprietorship is a graduated rate from 7-24%. Taxes are calculated after reliefs and allowable expenses are deducted.

Virtualaccountant.ng helps SMEs comply with tax and other regulatory compliances. We do book keeping and other accounting services too at very ridiculously reduced prices.

muyimart:
Thanks for the post,am having problem with TIN collection, i have a registered company already, when i got to osogbo TIN office i was asked to bring TAX CLEARANCE, I went to clearance office/local gov where the company was located , i was asked to pay 55k for tax clearance.

You're about to be scammed ! You can't have tax clearance if you've not filed your tax returns. Even if you have not commenced operations, you'll still be required to file a statement of affairs and pay a pre incorporation levy of 20k, not 55k.

Ask to see the tax controller of that tax office, he/she should be able to guide you.

Virtualaccountant.ng helps SMEs comply with tax and other regulatory compliances. We are ridiculously affordable!!!

Virtualaccounts:
You're about to be scammed ! You can't have tax clearance if you've not filed your tax returns. Even if you have not commenced operations, you'll still be required to file a statement of affairs and pay a pre incorporation levy of 20k, not 55k.

Ask to see the tax controller of that tax office, he/she should be able to guide you.

Virtualaccountant.ng helps SMEs comply with tax and other regulatory compliances. We are ridiculously affordable!!!

LOL... This guy. Wehdone.

dyoung4:
How can someone that already have TIN with business name formally notify FIRS and CAC for closure of business?

Hi,

What kind of business did you register. You'll be required to have a board resolution for dissolution and some fees are payable to CAC with your final audited accounts. For FIRS, you'll be required to do a tax computation on cessation basis and file your financial reports (prepared on breakup basis).

You will need a professional to help you handle this and guess who Virtualaccountant.ng .

Virtualaccountant.ng helps SMEs comply with tax and other regulatory compliances. We are good like that

narutop:
Are online freelancers and bloggers who work from home required to pay tax or get TIN?

Yes, as a good citizen of Nigeria, you ought to register yourself with the taxman and remit on a monthly/annual basis. You can get a tax clearance certificate/card at the end of the year and you can be saved from a lot of hustles like lastma, visa application, finance for expansion etc.

We will advise you to register today to do the needful.

Virtualaccountant.ng helps SMEs comply with tax and other regulatory compliances. Did I mention that we are ridiculously affordable!!!

Virtualaccounts:
Yes, as a good citizen of Nigeria, you ought to register yourself with the taxman and remit on a monthly/annual basis. You can get a tax clearance certificate/card at the end of the year and you can be saved from a lot of hustles like lastma, visa application, finance for expansion etc.

We will advise you to register today to do the needful.

Virtualaccountant.ng helps SMEs comply with tax and other regulatory compliances. Did I mention that we are ridiculously affordable!!!

As a blogger? Nah!

Since the tax authorities are still trying kinda hard to deal with internet businesses and e-commerce, the only way you can start remitting taxes is if your online business is incorporated with CAC, there and then all other statutory obligations are triggered.

How can someone who is just a blogger and online freelancer start remitting taxes?

Beats me.

Narutop, please take note. If you are not ready for the hassles of registering and paying taxes or if your business structurally is not ready for such massive move. Biko, stay your lane.

deturla:
As a blogger? Nah!

Since the tax authorities are still trying kinda hard to deal with internet businesses and e-commerce, the only way you can start remitting taxes is if your online business is incorporated with CAC, there and then all other statutory obligations are triggered.

How can someone who is just a blogger and online freelancer start remitting taxes?

Beats me.

Narutop, please take note. If you are not ready for the hassles of registering and paying taxes or if your business structurally is not ready for such massive move. Biko, stay your lane.

Ideally, he should pay his tax whether registered with CAC or not and this is based on experience. Only PAYE is applicable here.

And that's why I said as a good citizen. It's his obligation, but he can choose to not disclose just because the government "won't know".

The benefit is that, he will be saved from all the hustles I highlighted earlier.

Virtualaccounts:
Ideally, he should pay his tax whether registered with CAC or not and this is based on experience. Only PAYE is applicable here.

And that's why I said as a good citizen. It's his obligation, but he can choose to not disclose just because the government "won't know".

The benefit is that, he will be saved from all the hustles I highlighted earlier.

From experience as well, there is more to taxation and payment of taxes in Nigeria than meets the eye.

Hassles with Lastma, visa application and other stuffs can be dealt with other ways.

The important factor is to highlight the pros with respect to the challenges he would face if he is not ready to mask the associated responsibilities.

You have a point anyway, but as a former big4 person turned entrepreneur, I'd advise him for his own good.

LOL...

I love your website. **winks**

deturla:
As a blogger? Nah!

Since the tax authorities are still trying kinda hard to deal with internet businesses and e-commerce, the only way you can start remitting taxes is if your online business is incorporated with CAC, there and then all other statutory obligations are triggered.

How can someone who is just a blogger and online freelancer start remitting taxes?

Beats me.

Narutop, please take note. If you are not ready for the hassles of registering and paying taxes or if your business structurally is not ready for such massive move. Biko, stay your lane.

I'm with you boss.

May I ask if sportbet agents also need to get TIN.

For TIN Online Verification: https://apps.firs.gov.ng/tinverification/

narutop:
I'm with you boss.

May I ask if sportbet against also need to get TIN.

Is it a registered business? How did you apply to be a sports bet agent?

Isn't being a registered person part of the requisite?

Men, you go register this one oh. LOL.

Virtualaccounts:
Ideally, he should pay his tax whether registered with CAC or not and this is based on experience. Only PAYE is applicable here.

And that's why I said as a good citizen. It's his obligation, but he can choose to not disclose just because the government "won't know".

The benefit is that, he will be saved from all the hustles I highlighted earlier.

I get your point. The primary benefit is what I am after and not the secondary ones which you listed which i believe can be sorted out without TIN.

deturla:
Is it a registered business? How did you apply to be a sports bet agent?

Isn't being a registered person part of the requisite?

Men, you go register this one oh. LOL.

Being a registered person is not compulsory, however the sportbet company is registered.
Some give their agents license to operate why others don't.
To register, you fill a form on the company website, after which they come to inspect the shop and equipments, if they are satisfied , you pay a fee and begin.

fidalgo19:
Nigerian and tax.
President that will chop and clean mouth after spending it.

Notwithstanding, it is a civic responsibility of all law abiding citizens to the state.