Getting TIN from February 1 will not make one liable for income tax

The Finance Ministry yesterday said that a Tax Identification Number (TIN) doesn’t automatically make someone liable for income tax.

The Ministry said that the obligation arises only when income exceeds the annual tax exemption limit of Rs.1.2 million for those above 18. However, submitting the TIN is mandatory when opening a current account, requesting building plan approval, registering a motor vehicle, renewing a licence and registering title to land from February 1.

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