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THE KYC DICTIONARY
Tax Identification Number (TIN)
Definition
A Tax Identification Number (TIN) is a unique identifier assigned to individuals and entities for tax purposes. Sometimes called a taxpayer identification number, it is issued by a country’s tax authority to both individuals and businesses, with a primary purpose to facilitate the administration and enforcement of tax laws.
A TIN is used by tax authorities to track tax obligations and ensure compliance with tax laws and is essential for filing tax returns, paying taxes, and conducting other tax-related activities.
Each jurisdiction’s tax identification number system - which typically is comprised of a sequence of numbers and letters - may vary. For example, in Denmark a TIN would be the Danish CVR number as issued by Denmark's Central Business Register (Det Centrale Virksomhedsregister).
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What we offer
Avallone’s Products and Services
Whatever your needs, our products and services work together seamlessly - enabling your team to confidently respond to KYC requests, collect information safely and securely from counterparties, maintain data accuracy and escalate concerns effectively.
KYC Responder
Say goodbye to manual handling of incoming KYC requests. Easily save, store and re-use responses to avoid endless duplication.
KYC Collector
Save time collecting and verifying KYC data from counterparties. Streamline screening, compliance and risk scoring in one easy-to-use platform.
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Screening
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KYC Hub
One single source of truth for managing and visualizing legal entity structures and documents across your entire organization.
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Managed Services
Hands-on support to relieve your KYC / CDD workload. Our experts work alongside your team to provide scalable support where and when you need it most.
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Advisory Services
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Outreach KYC Services
Designed for banks and financial institutions looking to simplify their KYC document collection. Let us take care of the time-consuming communication and follow-up, and elevate the experience for your customers.
Remediation Services
For regulated companies seeking proactive solutions to meet their compliance deadlines. Tap into remediation support to refresh and verify customer profiles quickly and accurately.
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