New bill proposes Tax ID requirement for bank account opening …C0NTINUE READING HERE >>>
Dated October 4, 2024, and obtained from the National Assembly, the bill stipulates, “A person engaged in banking, insurance, stock-broking, or other financial services in Nigeria shall make the provision of a tax ID, a precondition for opening a new account or operating an existing account.”
TIN
This measure aims to ensure that all individuals and entities within the financial sector are accurately registered for tax purposes.
The bill also extends this requirement to non-residents supplying taxable goods or services or deriving income from Nigeria, who must register for tax and…
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