Tax Identification Number (TIN)
The Tax Identification Number (TIN) is a numerical code allocated to individuals and entities upon request. These codes are systematically generated in sequential order and serve as universal identifiers for all tax obligations. Each TIN is combined with a two-digit tax type ID to form a unique tax account number for every entity. For instance, if a corporation holds TIN 1234, its VAT account number would be 123427, and its corporate tax account number would be 123402.
Changes in business circumstances may prompt a TIN alteration. For example, if a business transitions from a sole proprietorship to a corporation, a new TIN would be issued. However, TINs assigned to individuals remain unchanged under normal circumstances. The TIN consists of a maximum of six (6) digits
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