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Finance Bill 2019 - Individuals to Produce Tax Identification Number (TIN) before Operating Bank Account  


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 Nsikak
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(@Nsikak)
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The National Assembly recently passed the 2019 Finance bill of which sections 33, 49 & 58 of the Personal Income Tax Act, were amended, making it mandatory for individuals to produce their Tax Identification Numbers (TIN) before they can operate their bank accounts in Nigeria.

According to the minister of Finance Mrs. Zainab Ahmed, the said policy is expected to be implemented by 2 January 2020. This implies that those without TIN will not be able to operate their bank accounts if they are yet to obtain it on or after the date of commencement of the policy.

However, both existing and new bank account owners are advised to pay attention and ensure that they obtain their TIN before the said date.

To verify your Tax Identification Number and send to your bank for an update please visit:

https://tinverification.jtb.gov.ng/Template/TINVerification or any tax office nearest to you.

 

 

 
 

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