A decision has been taken to postpone the implementation of the rule making the Taxpayer Identification Number, or TIN, mandatory for specified activities until April 1, 2027.
Relevant officials had previously been notified that anyone engaging in any of eight designated categories of transactions had to submit a valid TIN certificate, effective from the first of this month.
Key Highlights
- Making TIN mandatory for eight transaction types postponed to April 1, 2027.
- The step was taken with Finance Ministry approval considering high demand.
- Those who have not obtained a TIN can register via online e-services.
Reason for postponement
The Inland Revenue Department stated that a very high demand to obtain the TIN certificate was observed from persons engaged in these transactions as well as other parties.
Considering this heavy demand and the prevailing situation, the relevant decision was postponed to April 2027 with the approval of the Ministry of Finance.
Introducing convenient methods
The Inland Revenue Department said that during this extended period, steps will be taken to introduce alternative methods for those already registered to obtain it easily.
The Commissioner General of Inland Revenue informs those who have not yet obtained the number to register for a TIN online through the e-Services portal.
What next?
During the extended period, alternative mechanisms are set to be introduced so that those who have already registered for a TIN can obtain it in more convenient ways.
