The Chairman of the Joint Tax Board (JTB) and Federal Inland Revenue Service (FIRS), Mr. Babatunde Fowler, has disclosed that the tax agency is set to launch a new Tax Identification Number registration system to boost tax compliance and revenue collection in the country.
The Tax Board Chief unveiled this plan while addressing delegates at a high-level gathering convened by the General Assembly of the United Nations, at the weekend in New York.
Mr. Fowler explained that the new TIN registration system, which is scheduled to be launched tomorrow by Vice President Osinbajo, will boost tax compliance, bring convenience to the taxpayer.
In turn, it will enhance revenue collection. More so, the new JTB TIN number will be universal throughout the country and can be used by taxpayers to pay any type of tax.
The new JTB TIN registration system is also expected to reduce the burden of multiple TIN numbers registration from different tax authorities and states. The new system leverages on the biometrics from Bank Verification Number (BVN), tax agencies, the Corporate Affairs Commission (CAC), and the National Identity Management Commission (NIMC).
Bringing all into one platform, Mr. Fowler further explained.
“The new system is able to generate TIN automatically for newly registered cooperate taxpayers from CAC, verify TIN details and print TIN certificate, using the TIN Verification Portal.
“The system also allows tax officials and taxpayers to initiate TIN registration from the comfort of their homes/offices and at their convenience, as the system also notifies the taxpayer through a robust and secured system-system integration, with transparent and convenient benefits.”
-Nairametrics
