A valid Taxpayer Identification Number (TIN) Certificate will become mandatory from tomorrow (November 1) for several key transactions, including opening bank accounts, registering vehicles and land, registering businesses and obtaining credit cards, the Inland Revenue Department (IRD) said. The requirement is being introduced under the Inland Revenue (Amendment) Act, No. 11 of 2026, and applies to transactions specified under Section 102(3) of the Inland Revenue Act. Accordingly, individuals will be required to submit a valid TIN Certificate when opening accounts at banks or financial institutions, obtaining building plan approvals, registering motor vehicles, renewing vehicle licences, registering land or land titles, registering businesses, transferring shares in Sri Lankan companies and obtaining credit cards. For company share transfers, both the buyer and seller must provide their TIN details. The IRD has instructed relevant officials and institutions to verify that the required TIN documentation is submitted before processing or completing these transactions. The Department has advised individuals who have not yet obtained a TIN to apply in advance through its e-Services platform. Individuals can also verify their TIN through the IRD’s e-Services portal. A printout of the verification result displaying the individual’s National Identity Card (NIC) number and TIN will be accepted as an alternative to the official certificate. The IRD reiterated that obtaining a TIN is mandatory for all resident individuals who were 18 or older by December 31, 2023, as well as those who turned 18 on or after January 1, 2024, upon reaching that age. (Newswire/AI Image) The post TIN Certificate mandatory for key transactions from tomorrow appeared first on Newswire.
