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Tax Identification Numbers

New Tax Laws from 1 January 2020

Everyone in the business community will need to have a TIN

Everyone who becomes:

  • subject to a tax law (VAT, Rent Tax) or
  • is required to have a business license

needs to apply for a TIN, unless they already have one.

If you have a CT number, that becomes your TIN

You don’t have to apply for a TIN as your current CT number will become your TIN. 

 

During 2020 we expect you to change your business practices to adopt your TIN (e.g. tax invoices, receipts)

You need a TIN if you are a new business or not previously registered for VAT

You will need to complete the TIN application form.

 

 

The application will require you to provide evidence of your identity.

There are penalties for failing to apply for a TIN

A person who is required to apply for a TIN but fails to do so is liable for a penalty.

 

The penalty is VT10,000 for each month that they have not applied - from the date they were required to do so.

Your TIN should be used in all contacts with Inland Revenue

A TIN is a unique identifier that can be used for the purposes of all taxes. In broad terms, the issuing of a TIN is the general basis for taxpayer registration. 

TINs provide the opportunity for a “one-stop-shop” approach to taxpayer registration, thereby reducing compliance costs and over time.

For more detail on Tax Identification Numbers refer to Part 2 of the Tax Administration Act no.37 of 2018

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Phone Number
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+678 24544