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The management of Corporate Affairs Commission (CAC) in collaboration with the Federal Inland Revenue Service (FIRS) announced that registered companies will now get Certificate of Incorporation with Tax Identification Number (TIN).
This was contained in a statement signed by the Corporate Affairs Commission (CAC) on Monday, the 29th of June, 2020. Excerpts reads thus; “Certificates of Incorporation of companies registered under part A of the CAMA will henceforth carry Tax Identification Numbers (TIN) issued by the FIRS”.
As part of the Ease Of Doing Business Initiative, CAC will now work with the FIRS to issue TIN along with the Certificate of Incorporation. This will save companies and business owners the troubles of applying separately to the FIRS for same.
With this development, companies and business owners can now proceed to open a corporate account upon receipt of their Certificate of Incorporation, rather than waiting another week or more for the issuance of Tax Identification Number.
For the revenue collection agency, the development is set to improve the accuracy of its database of registered businesses operating in the country and can aid it to widen its revenue net.
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