TIN (Taxpayer’s Identification Number) is a familiar term in tax regime. Disappointingly, most of us do not know the actual worth of having a TIN. TIN is not a mere number; it has manifold functions. A popular misconception among many people is that if they have a TIN, a burden of paying tax would be imposed on them. However, the truth is persons having no taxable income under the Income Tax Ordinance, 1984 is free from the lumber of paying taxes even if he/she has a TIN certificate.
How to get TIN
Unlike in the past, it is very easy to get a TIN certificate nowadays. National Board of Revenue (NBR) has introduced e-TIN registration system for the taxpayers. All new and existing taxpayers have to register through www.incometax.gov.bd to get their new 12 digit e-TIN certificate by December 31 of this year. The existing 10 digit TINs will be invalid from January 1, 2014.
Where TIN is mandatory
TIN is required in some occasions of our daily affairs. Without TIN certificate one cannot avail his/her desired services. It is mandatory to present TIN certificate at the places which are stipulated in Section 184A of the Income Tax Ordinance, 1984. The places at which a person is required to produce the TIN certificate are:
Opening a letter of credit (LC) for the purpose of import or submitting an application for the purpose of obtaining an import registration certificate. Renewal of trade license in the area of a city corporation or of a paurashava of a divisional headquarters or of a district headquarters. Submitting tender documents for the purpose of supply of goods, execution of a contract or for rendering services. Submitting an application for membership of a club registered under the Companies Act, 1994. Issuance or renewal of license or enlistment of a surveyor of general insurance. Registration for purchase of land, building or an apartment situated within any city corporation, deed value of which exceeds one lakh taka. However, this is not applicable in case of registration for purchase of land, building or an apartment situated within any city corporation, by a non resident Bangladeshi. Registration, change of ownership or renewal of fitness of a car, jeep or a microbus as defined by the Motor Vehicles Ordinance, 1983. Sanction of loan exceeding five lakh taka to a person by a commercial bank or a leasing company. Issue of credit card. Issue of practicing license to a doctor, a chartered accountant, a cost and management accountant, a lawyer or an income tax practitioner. Giving ISD connection to any kind of telephone. Registration of a company under the Companies Act, 1994 in respect of sponsor director. Submission of application for a license as a Nikah Registrar under the Muslim Marriages and Divorces (Registration) Act, 1974. Applying for or renewal of membership of any trade body. Submitting a plan for construction of building for the purpose of obtaining approval from Rajdhani Unnyan Kartipakkha (RAJUK), Chittagong Development Authority (CDA), Khulna Development Authority (KDA) and Rajshahi Development Authority (RDA); Issuance of drug license.TIN certificate is the symbol of consciousness of the people of a nation. Payment of tax in due time is our solemn obligation. If each and every qualified citizen of our country performs this obligation, the opulence of our country will grow expeditiously and the country will be able to offer better services to its citizens.