Govt. makes Tax Number mandatory for several transactions

The Government yesterday via the 2024 Budget made the Taxpayer Identification Number (TIN) mandatory for several transactions. 

The public will have to submit a copy of the Certificate of the Taxpayer Identification Number (TIN) when opening a bank current account at any bank; obtaining approval for a building plan, by the applicant; registering a motor vehicle or renew license, by the owner; and registering a land or title to a land, by the buyer.

 The required guidelines will be issued by the Commissioner General of Inland Revenue.