Rs 50,000 fine for not obtaining Taxpayer Identification Number 

By Shyam Nuwan Ganewatte

Everyone above the age of 18 years failing to obtain a Taxpayer Identification Number (TIN) would be liable to a fine of Rs 50,000, the Inland Revenue Department said yesterday.

Starting from yesterday (01 Jan., 2024), a mandatory tax registration requirement has been instituted for individuals aged 18 years and above or those reaching 18 after this date.

The Inland Revenue Department says that individuals falling under these criteria must register with the department and obtain a TIN.

In addition, anyone earning an income of more than Rs. 1,200,000 a year of assessment (from April 01 to March 31 of the following year) has to register for Income Tax.

Failure to comply with the regulations would lead to a situation where the registration will be done by the Inland Revenue Department but with penalties not exceeding Rs. 50,000.

The TIN could be both obtained by visiting the IRD in person or online. To obtain a TIN through electronic service, every individual must submit PDF copies of the scanned images of both sides of his or her national identity card, the IRD has said.