israel007: Same day.


After we did our company registration, I went to the bank GTBank to open an account. Their corporate account opening requirement isn't as stringent and unnecessary like the other bank. When we got there, they requested for a TIN which we didn't have so we had to go the FIRS to go apply. On getting there, they asked where our registered office is and upon telling them it was in lekki, we were directed to their island office. When we got there, see wahala. They were asking for things even CAC didn't ask us. And one week later we were still on it. I went to the bank and I was referred to their contact person who charged us 1k. We paid at about 10 am and by 2 pm of same day they were calling us to come collect our certificate.

oshanka: Please I need an opinion , registered a business name 5 years ago, and opened an account with it the same year , during d last update exercise out of negligence did not get a TIN. Still using the account but intend to get a TIN now, what penalties would i pay and hope it would not be clumsy having operated the account off and on in the last five years. Thank you

ProfTayour: I registered a business name last year August and was at FIRS office to obtain TIN last week, i was told to pay #10,000 for late registration or something like that... Please isn't there a way around this?

meetgaya:
for the first one month is free. the 2nd month is N10,000.00, the 3rd month is N20,000.00 etc

ProfTayour: I registered a business name last year August and was at FIRS office to obtain TIN last week, i was told to pay #10,000 for late registration or something like that... Please isn't there a way around this?

oneblacboi: So many misconceptions on this thread! Let me clear the air as an experienced tax consultant that has helped hundreds of companies with this process and other tax related matters.

First of all, a TIN is FREE! To obtain a TIN you have to present your incorporation documents, a completed FIRS taxpayer input form stamped with your official stamp. Note however, as a result o FIRS' unstructured methods of operation, different tax offices may require slightly different documents which may include an application letter.

Secondly, some tax offices would only issue you TIN numbers when you register for VAT and Companies Income Tax hence some extra documents would be required.

Thirdly, according to the tax laws, you should register for VAT six months after commencement of your business otherwise, you would be liable to a penalty of N10,000 for the first month of default and N5,000 for subsequent months. However, a company might have been registered with CAC 20 years ago and might have not commenced business. In this case, the company is not liable to pay any penalty. The tax authorities on the other hand knowing how fraudulent taxpayers can be claiming not to have commenced business whereas they have operations running for years usually require that at least a N10,000 penalty is paid for any company register later that six months ago whether the business claims to have commenced business or not. Once again, this doesn't happen at all the FIRS offices. One FIRS office with this method is the YABA ITO on Murtala Mohammed Road.

Fourth, if for any reason, you are to pay a penalty, never pay cash to a officer rather, always pay through the bank where you would obtain an e-ticket for payment.

Finally, when you register with the tax office, there are certain things now required of you. One of the numerous requirements is monthly filing of VAT returns and other tax payments. For this reason i always advise people to engage the services of a tax consultant as tax is generally like babalawo things. it looks so simple until you get into it and realize there is much more than you bargained for.

I would be happy to answer further questions on this subject matter. However, before you ask a question, ensure you read the entire thread first.

Regards

oneblacboi: So many misconceptions on this thread! Let me clear the air as an experienced tax consultant that has helped hundreds of companies with this process and other tax related matters.

First of all, a TIN is FREE! To obtain a TIN you have to present your incorporation documents, a completed FIRS taxpayer input form stamped with your official stamp. Note however, as a result o FIRS' unstructured methods of operation, different tax offices may require slightly different documents which may include an application letter.

Secondly, some tax offices would only issue you TIN numbers when you register for VAT and Companies Income Tax hence some extra documents would be required.

Thirdly, according to the tax laws, you should register for VAT six months after commencement of your business otherwise, you would be liable to a penalty of N10,000 for the first month of default and N5,000 for subsequent months. However, a company might have been registered with CAC 20 years ago and might have not commenced business. In this case, the company is not liable to pay any penalty. The tax authorities on the other hand knowing how fraudulent taxpayers can be claiming not to have commenced business whereas they have operations running for years usually require that at least a N10,000 penalty is paid for any company register later that six months ago whether the business claims to have commenced business or not. Once again, this doesn't happen at all the FIRS offices. One FIRS office with this method is the YABA ITO on Murtala Mohammed Road.

Fourth, if for any reason, you are to pay a penalty, never pay cash to a officer rather, always pay through the bank where you would obtain an e-ticket for payment.

Finally, when you register with the tax office, there are certain things now required of you. One of the numerous requirements is monthly filing of VAT returns and other tax payments. For this reason i always advise people to engage the services of a tax consultant as tax is generally like babalawo things. it looks so simple until you get into it and realize there is much more than you bargained for.

I would be happy to answer further questions on this subject matter. However, before you ask a question, ensure you read the entire thread first.

Regards

meetgaya:

most you pay education tax even if your company is yet to commence business? and how much?

ProfTayour:

Thanks @ oneblacboi.

So, in that case i should not have to pay the 10,000 late registration penalty since i'm yet to commence business operation.

The staff i met at FIRS Ilorin insists. How do i convince them to get me the TIN without paying?

I need it to open a corporate bank account.

Thanks

eddiebruk:

Oga it's not guaranteed to be same day, it all depends on the branch, how effective and customer concerned they are. although mine was next day, but i have seen some people whom theirs took more than 3days

You should have the following before you get to firs
*a coloured letter headed paper of your company (this is what you will use to apply for. TIN)
* the cac certificate, original (for sighting) and photocopy
*cac form A1 (that carries the photo(s) of the proprietor (s)) photocopy and original
*cac form 6 (that indicates the BN no) photocopy and original
*a company rubber stamp (you will need that to stamp the firs forms)
*on the firs form (VAT), you will be asked for company bank account, if you have one (I doubt this, cos most banks will ask for your TIN number before opening such) you can write "yet to be opened"
Then as soon as you get your TIN number, you can now go and open the account (just make sure you get a company seal ready)

I think I have covered all the basics!
Goodluck

can i use my enterprices certificate to get my tin number
Oh! TIN registration is FREE!!! Plus, I do not work for firs nor cac, I just shared my own experience when I did mine in august this year!

*when filling the forms, if you don't understand anything, leave it blank, cos when you are submitting it, the tax officer will tell you what to write e.g auditors (yet to be appointed) the bank acc I mentioned earlier etc
Cheers

You should have the following before you get to firs
*a coloured letter headed paper of your company (this is what you will use to apply for. TIN)
* the cac certificate, original (for sighting) and photocopy
*cac form A1 (that carries the photo(s) of the proprietor (s)) photocopy and original
*cac form 6 (that indicates the BN no) photocopy and original
*a company rubber stamp (you will need that to stamp the firs forms)
*on the firs form (VAT), you will be asked for company bank account, if you have one (I doubt this, cos most banks will ask for your TIN number before opening such) you can write "yet to be opened"
Then as soon as you get your TIN number, you can now go and open the account (just make sure you get a company seal ready)

I think I have covered all the basics!
Goodluck

can i use my enterprices certificate to get my tin number
Oh! TIN registration is FREE!!! Plus, I do not work for firs nor cac, I just shared my own experience when I did mine in august this year!

*when filling the forms, if you don't understand anything, leave it blank, cos when you are submitting it, the tax officer will tell you what to write e.g auditors (yet to be appointed) the bank acc I mentioned earlier etc
Cheers

JideTheBlogger: Simple..

I went to GTB to Open a corporate acct with my business name. The guy told me I need TIN. Begged him to help me process it. I gave him copies of my docs and I got my TIN after 3wks.

oneblacboi:
So many misconceptions on this thread! Let me clear the air as an experienced tax consultant that has helped hundreds of companies with this process and other tax related matters.
First of all, a TIN is FREE! To obtain a TIN you have to present your incorporation documents, a completed FIRS taxpayer input form stamped with your official stamp. Note however, as a result o FIRS' unstructured methods of operation, different tax offices may require slightly different documents which may include an application letter.
Secondly, some tax offices would only issue you TIN numbers when you register for VAT and Companies Income Tax hence some extra documents would be required.
Thirdly, according to the tax laws, you should register for VAT six months after commencement of your business otherwise, you would be liable to a penalty of N10,000 for the first month of default and N5,000 for subsequent months. However, a company might have been registered with CAC 20 years ago and might have not commenced business. In this case, the company is not liable to pay any penalty. The tax authorities on the other hand knowing how fraudulent taxpayers can be claiming not to have commenced business whereas they have operations running for years usually require that at least a N10,000 penalty is paid for any company register later that six months ago whether the business claims to have commenced business or not. Once again, this doesn't happen at all the FIRS offices. One FIRS office with this method is the YABA ITO on Murtala Mohammed Road.
Fourth, if for any reason, you are to pay a penalty, never pay cash to a officer rather, always pay through the bank where you would obtain an e-ticket for payment.
Finally, when you register with the tax office, there are certain things now required of you. One of the numerous requirements is monthly filing of VAT returns and other tax payments. For this reason i always advise people to engage the services of a tax consultant as tax is generally like babalawo things. it looks so simple until you get into it and realize there is much more than you bargained for.
I would be happy to answer further questions on this subject matter. However, before you ask a question, ensure you read the entire thread first.
You can contact a competent team of tax advisors through the following details:
www.shelze.com.ng
info@shelze.com.ng
0817-014-4053
Regards

funshiba:


Education tax 2%

Onakomaya:
My company address is in Lagos. Can I get a tin number for my company in Abuja? I over head someone saying it is not advisable but couldn't tell me why..

depair:
If my businesz addresz is in otta can i apply for my TIN at say an office in victoria Island.

What do i need to do every year to FIRS since have not commence biz

Millionjeff:
Can i use enterprice certificate to apply for my tin nunber

winniecool68:


please where can I find FIRS office in Lagos, is there any close to isolo?

mikeywise:

Its better you apply for your TIN in Otta, there is an FIRS office in Otta.

depair:


i have done that at V.I any implication. does it mean TIN is applicable to address of biz

mikeywise:

Before I answer that question, which address did u give, VI or Otta address?

Smooyis:
Thats #1,000. Naija and corruption. Oga o!