What Is TIN: Why Is It Necessary and Application Procedure?

The tax identification number indicates your tax filing for the country. Know what a TIN is and why it is necessary for any citizen.

What Is TIN: Why Is It Necessary and Application Procedure?
What Is TIN: Why Is It Necessary and Application Procedure

Every start-up or small business that wants to sell a product or service must obtain a TIN (Tax Identification Number). Individuals also require TIN to submit their income tax returns to the government.

You can get a TIN Certificate in Bangladesh by going to the NBR or via E-TIN registration. When you get your TIN by e-mail, it is called an E-TIN.

Here's what you need to know about TIN.

What Is TIN?

TIN is an acronym for Tax Identification Number (TIN). In Bangladesh, the National Board of Revenue (NBR) is the only entity to issue you a Tax Identification Number (TIN).

Through the National Board of Revenue(NBR), one can apply for a Tax Identification Number either by hand or electronically.

What Is E-TIN?

In Bangladesh, E-TIN is obtaining a TIN Certificate using electronic means. It is a digital process of getting TIN online. All you need to do is submit your application by e-mail and have a device with an internet connection.

After you submit your information and complete all necessary steps, you will instantly get a PDF version of your record. You have to save the file to use it later.

Benefits of E-TIN

The whole procedure is digital, so you do not have to go to the NBR office. It is a quick and hassle-free solution.

Who Needs to Obtain It?

According to the Income Tax Ordinance 1984, every individual or business must have a Tax Identification Number to pay Income Tax.

The Necessity of TIN Number

The National Board of Revenue (NBR) grants citizens an Electronic Taxpayer Identification Number (e-TIN). The government gives each person or business a Tax Identification Number (TIN) and a unique number.

This number works like a tracker to trace tax payments to the government. No matter how much money they make each year, every working resident who has a job will need to get a TIN Certificate.

If you own a business or have a branch office, you must apply for a Tax Identification Number (TIN) with the National Board of Revenue (NBR). It is because it is required to keep your business going.

Why is a TIN required?

Manufacturers, Traders, Exporters, and any start-up or small, medium-firm intending to market a product or service must register for a TIN. The TIN Number works as identification of the VAT-registered business.

Additional Information

People also call it the VAT number when they use it for sales between states. It is the primary source of income for each country's government to tax people.

Special Mention

Before applying, you need to check and gather all necessary documents in one place. Otherwise, no matter how you do it, you will face some trouble manually or electronically. So you must collect all the required documents first before applying.

The documents that you will need:

  • Passport size photograph of the assessee. ( hardcopy if manually, softcopy if digitally)
  • Name and TIN of the (business/ partners/ Sponsor or directors)
  • Registration number / Incorporation number 
  • Post-Code of Permanent Address
  • Post-Code of Present Address
  • National ID or Passport Number

Before you apply, you need to have these documents or information first. If you forget or do not know any of the steps above, your TIN application will remain incomplete. So collect these documents or pieces of information first.

Step-by-Step Process for Getting an E-TIN Certificate in Bangladesh:

If you want to get a TIN certificate in Bangladesh, here are the steps you need to take:

  • Go to the website https://secret.incometax.gov.bd/TINHome
  • Fill out the Registration form with the correct information to get a User ID.
  • Provide a phone number to open an account.
  • In the given number, you will receive a code. This code will help you get the User ID and Password.
  • With your User ID and Password, you can get into the site.
  • Fill out the E TIN Registration form with information about the applicant or company.
  • Preview the application that you wrote.
  • Get an E-TIN Certificate right away!

These are the steps to obtain an E-TIN for the progress of your business. Easy, isn't it?

Conclusion

The current government wishes to make the country more digital. So it has begun to use E-TIN to improve the quality and speed of tax collection.

The process is stress-free and straightforward if you apply for a tax certificate online correctly and with all the papers required. The Tax Ordinance of 1984 contains all of the provisions governing tax certificates. So you must get an E-TIN certificate as soon as possible.