The Tax Identification Number (TIN)
The Tax Identification Number (TIN) is the tax identification number. Electronic Tax Identification Number (e-TIN) is the electronic version of a tax identification number. The only authority in Bangladesh to issue Tax Identification Numbers (TINs) is the National Board of Revenue (NBR). Tax Identification Numbers are required to file either manually or electronically with the National Board of Revenue (NBR).
Taxes are the main source of revenue for any government. Government agencies, which are aiming to digitalize the nations, have sought to integrate tax collection process by means of Electronic Tax Identification Number (E-TIN). Bangladeshi companies and individuals consider the Taxpayer’s Identification Number (TIN) Certificate als a very important document in this case.
According to The Income Tax Ordinance, Section 124A, if anyone uses the Tax Identification number (TIN) of another individual, or uses a fake tax identification number (TIN), the Deputy Commissioner of Taxes (DCT) could impose a fine of up to BDT 20,000.
Without reasonable cause, if the Deputy Commissioner of Taxes (DCT) or any other income tax authority authorized by the Board for this reason fails to verify the authenticity of the twelve-digit tax identification number (TIN), the person may face a fine of BDT 10,000. It is fifty thousand.