Do You Know the importance of TIN in the economy

Do You Know the importance of TIN in the economy

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To ensure every taxpayer is recognized, Tanzania introduced a process of identifying its taxpayers with the Taxpayer Identification Number (TIN)

In terms of the Income Tax Act, 2004 section 133 requires every person with income to register in the Tanzania Revenue Authority (TRA) offices within 15 days from the start of its business.

TIN is a professional number for computer technology and therefore a unique number that does not interact with other numbers.

This identification number is provided to the taxpayer and that is what will be its identity in its business activities.

TRA has now decided to change from the old system and use the current storage of taxpayers’ records by setting up a new system that is in line with technological growth.

It also has a full number of eligible taxpayers to be on the tax base and to remove air payers and those who have not been involved in business due to various factors including deaths or closure of companies or businesses.

Enabling taxpayer costs to be affordable and enable taxpayers to fulfill their obligatory tax obligations without a violation.

Every person who is eligible to pay a tax should get a TIN to be able to carry out its economic activities legally without any inconvenience including all those who are starting a new business.  That is why TRA recently launched the review and improvement of TIN for the purpose of obtaining full taxpayers’ information as well as registering new taxpayers to increase the number of taxpayers and tax forms.

According to the TRA Tax Officer and Education Officer, George Haule says anyone can get TIN and that there are two types of TIN that are TIN’s individual and business.

He says TIN is all available for TRA so if a person wants to get a TIN for a business he will be required to go to TRA for registration so he will be given an application form which will fill it with a letter of residence, two photographs, a business share contract.  as well as a permanent ID as a voter identification card, passport identification, passport or any identification card according to authority requirements.

The law does not allow another person to take someone with TIN and instead the person is required to approach TRA for taking and that after the completion of the form filling form with an attachment, the person will be required to take fingerprints as well as photographs so that his correct information can be made available.  incorporated into the system as well as avoiding someone to have more than one TIN.

After the TIN applicant’s information is inserted into the system and identified as a taxpayer will be issued with a TIN Certificate ID number issued by the TRA Commissioner.

TIN is important because it enables a person to register or alter a title deed, get a driver’s license, register a car or transfer a vehicle’s license, get a trade license and a manufacturing license, import goods from a foreign country or trade a customs agent  delivering goods to the port, entering contracts or obtaining service delivery or products including registration and value-added tax (VAT) this requires a person to have a TIN business.

Despite the importance of TIN it has benefits for traders because it will allow them to be recognized as legitimate traders.

TIN traders are the only ones who deserve to own domestic and foreign markets because they are the only ones who can be awarded tenders, licenses, business loans, contracts including importation and export.

Another advantage is that TIN traders are protected by law against illegal competition.

In addition to traders, the government will also benefit from having an increased tax base and enabling it to increase its output that will enable them to provide and improve social and economic services.

Tax evasion will be confirmed, it will stimulate economic growth by providing a competitive environment for fair trade rights by regulating the business of the pockets as well as simplifying information sharing between government departments or institutions and thereby improving service and control of tax evasion.

According to TRA, TIN is provided free of charge and that non-eligible individuals to register for this identification number are those who do not have a taxable income or employers whose whole income is taxed through the PAYE program.
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