TIN registration hits 10mn milestone

• 7mn yet to get on board: IRD

By Chathuranga Pradeep Samarawickrama  
Ten million people in total have registered with the Inland Revenue Department (IRD) to obtain the Taxpayer Identification Number (TIN), while at least seven million people still remain unregistered, IRD Deputy Commissioner General B.K.S. Shantha said.
Addressing the media he said that the 10 million people include the persons who are above 18 years old.
“A gazette notification was issued in May 2023, making it mandatory for all individuals aged 18 and above, those turning 18 by December 31, 2023 and those who reach the age of 18 after January 01, 2024, to obtain the TIN registration. Obtaining the TIN became a legal requirement at that time but many people did not initially receive their number. Subsequently, the IRD processed and issued the TIN for them, bringing the total number of registered individuals to 10 million,” Shantha said.
He requested the people to obtain their TIN for easy tax references. Towards this purpose, an online system has been introduced by the IRD for people to obtain their TIN, without visiting the IRD head office and branch offices. However, senior citizens have expressed that the process in place is not the most convenient for that segment. 
In the future, the TIN would become mandatory for various financial and legal activities, including bank deposits, vehicle registrations and ownership transfers, land registrations, business registrations, obtaining credit cards and many other financial transactions, Shantha said.