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Nairaland Forum / Nairaland / General / Business / Procedures To Get TIN No. From FIRS (51174 Views)
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Re: Procedures To Get TIN No. From FIRS by FreeBoss: 8:46am On Mar 03, 2016 |
legalcode:this is not charge and bail matter now. do you want to deep your fingers in every pie? haba |
Re: Procedures To Get TIN No. From FIRS by AKPOZY(m): 7:17pm On Mar 09, 2016 |
I must tell you that you are exceptionally good! Just this afternoon, I went to First Bank to inquire about what I need to open a corporate account. One of the requirements was a TIN. Honestly, I knew nothing about this as I only introduced myself into corporate stuff by registering a business name this March 2016. I just got my certificate documents yesterday. When I was told this, I was frightened! I thought to myself, I' ve not commenced business and I'm already being told about things that'll involve money that I hardly have now?' Well, I decided to google "TIN", which led me to our almighty NAIRALAND. Thank God for every contributor on this platform. As y'll are bent on making Nigeria a knowledgeable nation, may the Great God make your minds overflow with ideas that will bring everlasting satisfaction to every one of you and your household. Please, I need to learn further: as stated earlier, I'm yet to commence business. At this stage, wouldn't it be counter-productive to get any where near the tax house? Wouldn't the bank be charging me despite not doing any transactions yet? You may know that seeking contract jobs- which is why I'm setting this up- takes a long time for new firms. I pray it doesn't though. How can I handle FIRS in the mean time? How are VAT & Companies income taxes charged? Francis, I have flurry of questions. But I think I have to take it one step at a time. I'll be truly happy if I can get help from all well - meaning nlers. 4 Likes |
Re: Procedures To Get TIN No. From FIRS by Rexnegro(m): 11:38am On Apr 04, 2016 |
haladug:Please bro educate me, I reside in Lagos And my biz is in Lagos, who do I pay tax to? fg or Lagos govt? tho am yet to go for my own TIN, but don't no which TIN I should go get weda LIRS OR FIRS..pls educate me bro. |
Re: Procedures To Get TIN No. From FIRS by MsBella: 2:42pm On Apr 11, 2016 |
AKPOZY: Hello AKPOZY, Congratulations on the registration of your business name. Most of the questions in your post are the same questions I have too. However, I want to know what was involved in registering your business name, how long it took you to finish the process and if you did it yourself or used a lawyer. Thank you. |
Re: Procedures To Get TIN No. From FIRS by Lightwalker: 7:32pm On May 04, 2016 |
Thank you so much for this thread. I just got back from FIRS office here in Ibadan and I am stuck at the application letter part. Can anyone please help me with a template. The Address is the major issue for me right now. Anybody please? Thank you |
Re: Procedures To Get TIN No. From FIRS by Prospecta: 6:53pm On Jul 26, 2016 |
Please I am hoping i can get some help here regarding TIN application. I am planning to start a business in Nigeria and have completed the required business registration. Currently in the process of applying for a TIN and i'm hoping i can get some guidance from people on the forum. Can some please kindly shed some light on the queries below? 1. You will be required to write a letter to the tax comptroller with your company’s letter headed paper What should this letter read, does anyone has a sample? 2. A company rubber stamp (you will need that to stamp the firs forms) I am about to order rubber stamp for the business but i'm unsure what information goes on a rubber stamp. The default is Business Name, Address & Phone Number, is there anything else? 3. I am based outside Nigeria, will a friend of mine be able to take this to the firs office on my behalf? |
Re: Procedures To Get TIN No. From FIRS by Nobody: 9:23pm On Jul 26, 2016 |
Hello as regards your question, first you need to determine the relevant tax authority, this can be determined based on your registered address when registering your business at the CAC. The letter should be more of request/ registration for a tin number and this would be done in your companys letter head paper and duely stamped. anyone can help you take it to the relevant firs office. If its within lagos, the island to be precise, i can be of help to you. Thanks Prospecta: |
Re: Procedures To Get TIN No. From FIRS by mikeywise(m): 10:30am On Jul 27, 2016 |
Rexnegro:Is your business an enterprise or a limited liability company? this will help in giving you an appropriate response. |
Re: Procedures To Get TIN No. From FIRS by mikeywise(m): 10:39am On Jul 27, 2016 |
AKPOZY:Even if u have not commenced business, you still have to get a TIN, no body will charge you tax "if you have not commenced business" , however, if you want to collect TCC, you will have to pay pre-operational levy (POL). |
Re: Procedures To Get TIN No. From FIRS by Rexnegro(m): 4:25pm On Jul 27, 2016 |
mikeywise:it's enterprise, just a business name I registered with CAC |
Re: Procedures To Get TIN No. From FIRS by Nobody: 3:09pm On Jul 28, 2016 |
Rexnegro: For business name, you would have to pay your personal income tax to the state internal revenue service while you would pay VAT to the federal inland revenue service. 1 Like |
Re: Procedures To Get TIN No. From FIRS by Rexnegro(m): 3:46pm On Jul 28, 2016 |
doseni:no wonder people dey run from tax wahala...pay here pay There ontop how much ehn? 1 Like |
Re: Procedures To Get TIN No. From FIRS by mikeywise(m): 7:08pm On Jul 28, 2016 |
Rexnegro:The VAT you pay to FIRS is not from your profit. |
Re: Procedures To Get TIN No. From FIRS by Barbey: 9:50am On Jul 29, 2016 |
Hello Rexnegro, I feel I should come in here. As an enterprise, you need to register with FIRS, get your TIN with which you'd use to remit VAT charged at the end of the month. But note that VAT is not from your personal income. It is that 5% added to the value of sales or services rendered, you charge VAT from customers, and at the end of the month, before 21st of the next month, calculate the total VAT charged and remit to FIRS, where there are no sales for the month, you file NIL return. Failure to file is what attracts penalty and not failure to pay. You pay when you charge, if not , file NIL. Do you understand? For IRS, as an enterprise, if you are on payroll, have employees, then you should register with IRS, get Tax Payer ID with wich you will be remitting PAYE ( Pay As You Earn). A percentage of your salary and that of your employees based on the salary level. Where you are not on salary and do not have paid staff, PAYE does not apply to you. Hope I was explicit enough. For more, pls call me on 08126824830 Email: info@inceconsulting.com website: www.inceconsulting.com Rexnegro: |
Re: Procedures To Get TIN No. From FIRS by Rexnegro(m): 9:55am On Jul 29, 2016 |
thanks for all the info shared in here. |
Re: Procedures To Get TIN No. From FIRS by Barbey: 10:16am On Jul 29, 2016 |
oshanka: Hello oshanka, I will suggest you contact your account officer to be sure TIN has not been generated for your account because it is very likely it has been done so he/she can send it to you. But, if not, TIN is still free. You only need a good Tax Consultant to help you reduce the penalty for late registration as well as suggest other available options, you'll only pay a little consultation fee to the consultant. If you need help on that, feel free to call me on 08126824830. email: info@inceconsulting.com website: www.inceconsulting.com All the best. |
Re: Procedures To Get TIN No. From FIRS by knxo: 10:13am On Oct 14, 2016 |
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Re: Procedures To Get TIN No. From FIRS by kenyad: 3:41pm On Oct 14, 2016 |
My friend registered A limited liability company in 2013, so I want to use it to submit proposal. I did TIN myself, it's easy, just to go FIRS office around or the jurisdiction of the registered address in form co2 and co7. You will only need to make a rubber stamp and letter headed paper to write application letter. I got it next day but the lawyer that the registration for him made lots of mistakes while filling the form cos that my friend was not around then and I wasn't around too. I couldn't open to bank account with the company name cos I'm not one of the 2 directors. I went to different banks but only telling me that I'm not a member of directors so I can't open account despite providing letter to introduction and resolution. I need help regarding this please. |
Re: Procedures To Get TIN No. From FIRS by Naijascene: 8:08pm On Oct 14, 2016 |
Register for Your TIN online at this govt portal https://otr.jtb.gov.ng/ |
Re: Procedures To Get TIN No. From FIRS by aragon4realz(m): 6:03am On Jul 08, 2017 |
You should have the following before you get to firsthe company seal you talked about is it the same as the rubber stamp?? |
Re: Procedures To Get TIN No. From FIRS by Samreg: 2:46pm On Oct 16, 2017 |
Its either a seal or a ruber stamp. |
Re: Procedures To Get TIN No. From FIRS by mavinc4u(f): 3:44pm On Dec 14, 2017 |
Nice thread. |
Re: Procedures To Get TIN No. From FIRS by somehow: 12:47pm On Jan 22, 2019 |
Please is is possible to open a corporate bank account using a stamp or must it be via seal? |
Re: Procedures To Get TIN No. From FIRS by siryam(m): 3:04pm On Jan 30, 2019 |
No. WHT is tax on investments. israel007: |
Re: Procedures To Get TIN No. From FIRS by emma321(m): 12:05pm On Jun 07, 2019 |
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