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Benefits

Importance of TIN Project to National Development
 The Taxpayer Identification Number (TIN) is an initiative of the Joint Tax Board (JTB) which is basically an electronic system of tax registration. It is aimed at identifying and registering all taxable Nigerians, thereby providing a sustainable platform for revenue generation to enable the country have adequate funds for execution of laudable programmes for its citizenry.

It is a well known fact that tax administration system in Nigeria has been bedeviled by issues and challenges ranging from non-identification, registration and non-compliance of taxpayers. The TIN was designed primarily to address these and many other problems in the Country's tax administration system in order to bring it in line with global best practices.
Benefits derived

  • Increase in revenue.
  • The introduction of TIN Program will reduce the existing loopholes in the tax system in the country.
  • The TIN Program will enhance taxpayer identification and registration thereby bringing /capturing more taxpayers into the tax net.
  • The introduction of this Program will replace the manual registration system which is prone to a lot of errors, the electronic system will minimize errors and mistakes associated with manual registration.
  • The introduction of the TIN Program to the tax administration system will reduce the problem of multiple taxation which has been a major challenge for taxpayers and administrators.
  • The TIN Program will also enhance relevant information sharing amongst the relevant Stake holders in the Tax Administration System.
  • The TIN will engender greater compliance in Tax System because of its accuracy in capturing data of taxpayers.
  • It will minimize or eliminate cost of tax compliance, thereby enhancing voluntary compliance.
  • The implementation of an effective TIN system, will enable tax authorities collate, access, analyze and retrieve data with ease.
  • Due to its accuracy in the taxpayers database, the system will facilitate a more efficient system of tax assessment and collection as well as tax audit and investigation.
  • Enhance voluntary compliance thereby allowing tax authorities to focus on the review and verification of claims by taxpayers.
  • The system will reduce leakages in tax collection, eliminate corruption in tax system and enable tax authorities ascertain the actual income and taxes of all registered taxpayers.
  • With effective & efficient TIN system in place, it will enhance ICT literacy and capacity building among the SBIRs staff.
  • Provide basis for planning and budgeting purposes.
  • Widening and deepening of taxpayer database.
  • It will go a long way in providing a conducive and sustainable environment for taxpayers.