With technology now part of our life’s, anything can happen. The probability of someone using your Tax PIN or Tax Compliance Certificate to carry out unscrupulous business activities is very high.
That’s why it is important for hiring managers and tendering companies to check validity of the Tax documents submitted by the applicants.
Doing this will protect them and PIN holders from the consequences of identity theft.
Statistics on Identity Theft
The figures released last year (2020) by the US Federal Trade Commission (FTC), a consumer protection agency, show that identity theft reports were more than triple the number from 2018. Cases reached 1.38 Million in 2020 compared to 444,344 in 2018.
This is 2,920 percent annual hike in the number of identity theft cases. The victims said their information was used to apply or receive government benefits such as unemployment compensation, obtain driver’s licenses, passports and other government-issued documents.
The disturbing trend likely stemmed from the trillions of federal dollars unleashed in COVID-19 relief.
According to Kenya Market Analytics report released by Transunion; an American consumer credit reporting agency in 2020, Fraud is an ongoing and increasing concern. Annual losses from identity theft and loan stacking amount to approximately KES 13.3 billion.
What can you do about it?
We can change this story if me and you can utilize use the tools available to verify documents as CEO’s, Human Resource Executives and procurement officers of the companies we represent.
That’s why in this blogpost, I will show you how to check validity KRA Tax compliance certificate and PIN number.
Please watch the video to see how.
If you have any questions or concerns? let me know here.
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Until next time, take.
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