Govt removes TIN requirement for opening bank account
The amendment was passed in parliament today (29 June) through the Finance Bill.
Photo: NBR
The government has withdrawn the requirement for individuals to have a Taxpayer Identification Number (TIN) to open a bank account, easing a key compliance condition for customers.
The amendment was passed in parliament today (29 June) through the Finance Bill.
The change is expected to reduce hassles for people who do not have taxable income and therefore are not required to obtain a TIN.
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They will now be able to open bank accounts without first securing a taxpayer identification number.
The move is aimed at making banking services more accessible, particularly for low-income individuals and others outside the tax net, while removing an additional procedural barrier to financial inclusion.
