TIN number is effective from 1st February – State Minister for Finance

State Minister for Finance Ranjith Siyambalapiiya addressing a news conference held at the Presidential Media Centre (PMC) today (08) under the theme ‘Collective path to a stable country’ said that preparations are underway to implement the Tax Identification Number (TIN) system starting from 01st February.

He said that registration issues are currently being encountered, primarily because this is a new experience for the people and efforts are being made to address these challenges at the Divisional Secretariat level, with the intention of resolving them through an online system.

The State Minister pointed out that  in developed countries a taxpayer is recognized as a strong citizen who contributes to a country’s stability and reiterated that it is imperative for the people to embrace this change in attitude for the overall development of the country and added that the success of this program relies on the contribution of each individual.

“At the end of 2019, the number of tax files stood at 1,705,233, which decreased to 437,547 by the end of 2022. However, with the new policies of our government, we have successfully increased the number of tax files to 1,002,029 by December 31, 2023. Nevertheless, there is a need for further increase in that figure” he said.

(PMD)