CAC Links Tax ID With Company’s Registration ~ The Press Tv

By: Ridwanullahi Odofin

As part of measures to enhance the ease of doing business in the country, Federal government has merged the processes of registering a business and getting tax identification numbers.

In a statement on Monday, the Corporate Affairs Commission (CAC) said business owners who register their organisations with the Corporate Affairs Commission (CAC) would no longer need to obtain the tax numbers at the Federal Inland Revenue Service (FIRS).

The statement said that certificates of incorporation issued by the CAC would now carry the numbers.

In a statement shared via its Twitter page, the CAC said that companies no longer need to seek issuance of tax numbers after incorporation.

“This is to inform our esteemed customers that as part of the ease of doing business initiative, certificates of incorporation of companies registered under part A of CAMA will henceforth carry tax identification numbers issued by the Federal Inland Revenue Service (FIRS),” the corporation said.

“This has dispensed with the need for companies to apply for the issuance of tax identification numbers from FIRS after incorporation.”

The Muhammadu Buhari-led administration has been making efforts to improve Nigeria’s ease of doing business and set up the presidential enabling business environment council (PEBEC) to remove bottlenecks in the business environment and attract investments.