Why Shareholders Are Required to Provide Their TIN ID to Registrar Companies

If you own shares in any company listed on the Nigerian Exchange Group, you may have been asked to provide your Tax Identification Number (TIN) to your company’s registrar. This request is part of Nigeria’s ongoing tax reforms and is important for every shareholder.

Here’s why it matters:

1. It’s Now Required by Law

The Federal Inland Revenue Service (FIRS) requires financial records, including dividend payments, to be linked to a valid TIN. Providing your TIN ensures you are complying with current tax regulations and helps you avoid future issues with your investments.

2. It Helps Track Your Dividend Tax

Whenever you receive dividends, withholding tax is deducted before payment. Your TIN makes sure the tax deducted is properly recorded in your name. This prevents errors and makes it easier to sort out any tax-related questions later.

3. It Protects Your Investment

Linking your shares to your TIN helps confirm that you are the rightful owner. This reduces the risk of fraud and improves transparency in Nigeria’s capital market.

4. It Prevents Delays in Payments

Registrars may require your TIN to process dividends, bonus shares, rights issues, and unclaimed dividends. Submitting your TIN early helps ensure you receive your payments and shareholder benefits without unnecessary delays.

How to Submit your Tax ID with Africa Prudential Plc

Kindly enter the Tax ID into the online shareholder update form HERE, using your CHN Number as a unique identifier. This step is essential to ensure our records are updated and aligned with the new national tax requirements.

In Conclusion

Providing your TIN is simple but important. It keeps you compliant, protects your investment, and ensures you enjoy your shareholder benefits smoothly. If you have not yet submitted your TIN, contact your company registrar today.