Zend Technology Transforms NIN into Tax ID Linked Bank Account for Seamless Tax Payments
Zend Technology Company Limited in Nigeria has unveiled a revolutionary technology that converts the National Identification Number (NIN) into a Tax ID linked to a bank account, streamlining tax payments securely across the country. The system eliminates the need for manual linking, making tax compliance easier for citizens.
This innovation aims to enhance financial inclusion, simplify tax processes, and boost revenue generation for the government. Victor Kalu, the Chairman and CEO of Zend Technology, highlighted the platform's ability to enable gradual and instant tax remittances, reducing the burden of lump-sum tax demands.
The technology also includes a resident determination system to facilitate tax collection and resolve disputes with telecom partnerships.
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