Why Do You Need A TIN

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Why Do You Need A TIN
Why Do You Need A TIN

Video: Why Do You Need A TIN

Video: Why Do You Need A TIN
Video: 5 Things you MUST know about TIN | How to apply for a TIN (Tax Identification Number) 2024, December
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TIN is an individual taxpayer number, which consists of 12 digits. It is assigned to each taxpayer and is an individual identifier of an individual or legal entity.

Why do you need a TIN
Why do you need a TIN

To whom the TIN will be assigned

TIN is assigned to each individual or legal entity, as well as an individual entrepreneur, once in a lifetime. From the moment of the death of an individual, the TIN is canceled and is considered invalid.

When applying for a job, no one has the right to demand your TIN, although this practice is quite common in Russia, which is contrary to the Labor Law. You may find yourself from receiving a certificate with your TIN, you cannot force you to receive and provide its guidance. However, if you still have such a certificate on hand, then it is better to present it at the request of the accounting department: the TIN will come in handy when submitting an annual certificate of your income.

All TINs are stored in a single centralized database and allow you to quickly identify a malicious tax evader. As a matter of fact, it was created for this purpose. The TIN is issued at the place of registration of an individual or legal entity. This is evidenced by the first two digits in the number code.

The TIN of an individual consists of 12 digits, an individual entrepreneur - of 10, and a legal entity - of 5 digits. A foreign citizen can also obtain a TIN at the place of registration. To do this, you should contact the relevant tax office.

It is worth noting that some categories of citizens must be required to obtain a TIN, for example, civil servants and managers.

Practical benefits of INN

An individual taxpayer number can be useful to you from a practical point of view. This applies to some terminals that provide the ability to independently obtain the necessary documents. Agree, it is easier to enter the TIN code than to fill in all the personal data.

In everyday life, any person who decides to use the Unified Portal of Public Services will need an INN. In some cases, he is asked to provide the bank when issuing, for example, a card, although the TIN is not included in the mandatory list of documents for opening it.

There are cases when a TIN was required to be obtained even for a preschool child. But this is due to the fact that the child may take part in any contests, competitions and receive a cash prize. When parents take out insurance, the insurance company has the right to request a TIN, including for a child. Although you should know that no one has the right to oblige and compel a citizen to obtain this certificate.

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