Understanding income tax is probably the most difficult thing for any citizen. But it is the primary source of income for the government of any country. Consequently, there is a practice called Tax Identification Number (TIN) in all countries.
The government encourages taxation through E TIN registration or manually. However, TIN is an identification number issued to a citizen or a company by the government. So the government can track the tax payment details of an individual.
The National Board of Revenue (NBR) is the only authority in Bangladesh that issues TIN certificates. Applicants can obtain the TIN certificate by applying to NBR. It can be done both manually or electronically, which is called E TIN.
What is E TIN Certificate?
E TIN refers to Electronic Identification Number. An E TIN certificate is a 12-digit identification number issued to a person or a company. However, the earlier TIN certificate is a 10-digit number. As a part of digitization, the old TIN certificate is now updated to an E TIN certificate.
Through an E TIN certificate, a taxpayer can easily be identified. In Bangladesh, anyone who earns shall be required to obtain a TIN certificate. One has to pay tax based on their yearly income. The government sets a limit on the amount of income each year.
If anyone's income comes within the limits of this amount, they have to pay income tax. Anyone who has a job must obtain the mandatory E TIN certificate. Also, any business entity, for example, a company, branch office, must obtain an E TIN certificate.
Why Do You Need an E TIN certificate?
E Tin certificate is not only required to pay taxes; it can also be needed for other purposes. For example;
- Saving paper
- While opening a bank account
- While opening a DPS
- Buying a vehicle
- Opening a letter of credit for the import purpose
- While applying for an import registration certificate
- Renewal of trade license
- Submitting tender documents
- Obtaining a credit card
- So on.
You also need an E TIN certificate, don't you? So, find how you can obtain a TIN certificate in Bangladesh.
How to Obtain TIN Certificate in Bangladesh?
The aim of introducing E TIN is to enhance the efficiency and quality of the tax collection procedure. Paying taxes has now become easier than before. Since the process is now digitized, anyone can do this through online registration.
Below we've added a few steps that you can follow to obtain TIN without any hassle. First, you have to register online.
- Visit the National Board of Revenue (NBR) website.
- Register for the E Tin certificate by creating a User ID. Provide all the necessary information in the registration form.
- In the registration form, you need to provide
- A User ID
- A password
- Answer to a security question
- Country name
- A phone number and
- An email address
- Verification letters
- After you fill in the above information, click on the register to open an account.
- Then, an activation code shall send to your provided number. Submit the activation code in the required field and then click on the submit button.
- Now your account will be activated and ready to use.
- Provide the User ID and Password to log in to your account. In the next tab, click on the "Click Here" button.
- Next, Provide relevant information about the applicant or company in the TIN registration form.
- Check the submitted application again.
- Finally, your TIN certificate is ready to view.
- Click on "view TIN certificate" and get your E-TIN certificate.
You can save your TIN certificate or download it/print it from both your computer and mobile phone.
What Documents is Required for Obtaining TIN Certificate Manually?
The following checklist is for any business, including the branch/liaison office.
- A copy of the trade license
- Copy of memorandum of association and article of association (for company)
- Company incorporation certificate
- A financial solvency certificate (for company or proprietorship)
- Three copy photos of the owner (for proprietorship)
- Three copy photos of the managing director (for company)
- Three copies of passport-sized photo (for an individual)
- A copy of National ID or Passport
What Information is Included in the TIN Certificate?
A TIN certificate for an individual contains the following information;
- Tax Identification Number
- Name of the applicant
- Father's name
- Mother's name
- Present address
- Permanent address
- Business name/employer name
- Address of the registered office (for company)
- If any old TIN
This way, you will successfully obtain your TIN certificate. You can also get help from professional services related to tax compliance in Bangladesh. It would take approx. 5 hours to complete the whole process.
Published by Rechard Jons