2020-01-01

Banking Sector Compliance with the Taxpayer Identification Number Requirement

The Bank of Zambia directs all commercial banks to enforce the Taxpayer Identification Number (TPIN) requirement under Section 45B of the Income Tax Act. While existing accounts must remain open despite missing TPINs until further notice, all new accounts require a valid TPIN for opening and corporate account holders must fully comply. Banks are further instructed to actively sensitize customers on the simplified TaxOnPhone application process and maintain this as a minimum compliance standard.

Zambia

Bank of Zambia

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