A Tax Identification Number is a unique number for businesses and individuals that signifies them as a taxpayer in Nigeria.
Tax is an incumbent duty and civil obligation fostered in every business regardless of operational level. Thus, every business should conduct due diligence in maintaining a positive tax record.
Many business owners who only register their business name often wonder if the TIN is an obligation. Acquiring a TIN is a compulsory factor for every business registered as a business name or incorporated business.
While both businesses share the similarity of a TIN, the process and outcome aren’t the same. For businesses registered as a business name, obtaining a TIN is a unique process.
How Registered Business Names Can Apply For Tax Identification Number (TIN) in Nigeria
There are two channels available for registered business names to obtain their TIN. They include:
- By visiting the nearest Federal Inland Revenue Service office in person
- By requesting online via the Joint Tax Board (JTB)
Visiting The Nearest Federal Inland Revenue Service Office
The Federal Inland Revenue Service is a government body responsible for collecting and analyzing all finances collected as tax from individuals and businesses.
Businesses using this route need these documents:
- Business name registration certificate
- Application letter for a TIN registration
- Stamped VAT form 001
- Official business stamp
- Utility bill e.g, Electricity bill, water bill, subscription bill, etc
Ensure to carry along the original copies and two photocopies of the documents. One photocopy remains with the FIRS while one photocopy of the documents will be stamped and handed back to you as evidence of application.
Applying For A Tax Identification Number Online Through The Joint Tax Board
- Visit the official website and fill out the form presented to you
- Fill all compulsory fields marked with asterisks (*)
- Provide a valid email address and a registered mobile number
- Ensure characters don’t exceed 200 characters including symbols and letters
It’s essential to apply for your TIN immediately after you register your business. For many businesses, this may take a long time as both routes may experience backlogs.
Whether you’re a registered business name, or seeking to register your business, you can easily apply hassle-free with Prospa. We provide businesses with fast financial solutions to optimize their business for prosperity. If you have any questions, please contact our support team at help@getprospa.com or 018890240.
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