Business owners who register their businesses with the Corporate Affairs Commission (CAC) will no longer need to approach the Federal Inland Revenue Service (FIRS) for a tax identification number (TIN) as the federal government has merged the process with business registration.
CAC stated this in a statement yesterday, saying that certificates of incorporation issued by the Commission would now carry TINs.
“This is to inform our esteemed customers that as part of the Ease of Doing Business Initiative, Certificates of Incorporation of Companies registered under Part A of CAMA will henceforth carry Tax Identification Numbers issued by the Federal Inland Revenue Service (FIRS).
This has dispensed with the need for companies to apply for the issuance of Tax Identification Numbers from the FIRS after incorporation.”
Between October 2018 and March 2019, MSMEs were offered a N5,000 flat rate to register business names with the Corporate Affairs Commission (CAC).