Henceforth, Form A applicants will be expected to produce evidence of three-year tax clearance certificates.
Form A is an application form designed by Central Bank of Nigeria to pay for service transactions (invisible trade) that allow customers to make payment for services such as school fees, technical fees, dividends, airline tickets, loans repayment, judgment debt, Personal Home Remittance, PTA, BTA, etc.
Writing to its clients on the matter on Monday [today], the Standard Chartered Bank had advised:
Following our previous communication on submission and verification of Tax Clearance Certificate (TCC) for all FORM A applications, we wish to remind you on the requirement to provide your updated tax clearance certificate.
Effective 1st of April, 2024, you are required to upload your 3 years TCC for 2021, 2022 and 2023 assessment year for all new and existing FORM A application on the CBN trade monitoring system (TRMS). All submitted TCC will be verified from the state tax issuing authority before the application is approved.
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