Thursday, 5 December 2019

How To Apply For T.I.N Within 24 Hours, To Avoid Your Account From Being Disconnected.


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It's no longer news that the national assembly just passed a financial bill in the amended Sections 33,49 & 58 of the Personal Income Tax Act. To a layman the implication of this law is that individuals will be required to provide their T.I.N {Tax Identification Number} before they can operate their existing account in the bank or open a new one.

The purpose of this post is to fill you in with information required as regarding how to apply for T.I.N before the set implementation day, which is pegged at 2nd of January 2020. This is according to Mrs. Zainab Ahmed, The Minister of Finance.

Failure to comply with this directive, individuals involved will not be able to access their account after the set date.
So how can you avoid these? The only reasonable thing to do is to apply for T.I.N which is free of charge and can be done from the comfort of your room, with your smartphone...What a relief!!!

PropellerAds We all know how stressful it is to queue for things like this, Anyways it should be noted that to apply as an individual your B.V.N [Bank Verification Number] or N.I.N [National Identity Number] is required, after which you can apply for your individual Tax Identification Number by submitting your request for one, online via https://tin.jtb.gov.ng, Fill the necessary information and you are good to go.

Frequently asked Questions and Answers About TIN

What is T.I.N [Tax Identification Number]?

This 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.

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

Absolutely nothing...I repeat it is Free Of Charge. except you employ a third party to do it on your behalf or you have incurred any tax penalty based on the time frame given according to the Law to obtain your TIN.

How long does it take to obtain my TIN?

The TIN generation process is real time and in any case should not exceed 48 hours after a TIN request has been submitted here, https://tin.jtb.gov.ng.
Source; jtb.gov.ng The official site for Joint Tax Board.
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