TIN (Taxpayers Identification Number) is a number provide by NBR (National Board of Revenue) to a person who applied for. It is a ten digit number.First three for taxpayers location,middle three for taxpayers status and end four for taxpayer unique number.
TIN Certificate is very important for Bangladeshi citizen who needs to pay Income Tax, collection of IRC Bangladesh, ERC Bangladesh, L/C opening, Trade License renewal, Company Registration in Bangladesh , VAT Registration, Renewal of Vehicle fitness,
TIN Certificate is also important for Loan sanction from bank and financial institute over taka five lac, collection of Drug License,Credit Card, Practice License of an income tax practitioner, a cost and management accountant, a chartered accountant or a doctor, Registration of land,apartment,building in city corporation area and many more.
In recent circular of NBR, TIN Certificate needs for depositors of money over taka one lac in any bank. In present tax at source on interest income is 10% who showing their TIN Certificate to the bank. But who is failed to shown TIN Certificate will charge 15% on interest (depositors over taka one lac).
TIN Certificate in Bangladesh
There about forty lac TIN Certificate in Bangladesh of which only eight lac pay income tax rest of thirty tow lac are not pay. For betterment of Bangladesh we ought to pay tax. Govt. is trying to increase TIN Certificate holders as well as Tax Payers and has taken various initiative for this reason.
How do I get a TIN?
For collection of TIN Certificate following procedure should be maintained:
For Personal TIN Certificate:
3 Copies of photograph
copy of National ID/ Passport
For Company TIN Certificate:
Copy of Trade License
Copy of Incorporation Certificate (If Limited Company)
Copy of Memorandum of Articles (If Limited Company)
Copy of Partnership agreement (If Partnership Business)
3 Copies of photograph of Chairman/MD
TIN Certificates of all Directors (If Limited Company)