The Federal Inland Revenue Service (FIRS) has inaugurated the National E-Invoicing Solution Inter-Agency Steering Committee to enhance tax compliance and transparency in Nigeria. The initiative, known as the Merchant Buyer Solution (MBS), aims to replace traditional paper-based invoicing with a digital framework that facilitates real-time validation and storage of transactions.
The pilot phase of the e-invoicing system will commence with large taxpayers, including those in sectors such as oil and gas, banking, manufacturing, and services. This phased approach allows for the identification and resolution of potential challenges before a broader rollout.
The e-invoicing system is designed to improve tax compliance by providing real-time visibility into business transactions and financial data. It aims to reduce revenue leakages, enhance the ease of doing business, and align Nigeria’s tax administration with international best practices.
The full deployment of the system is expected by mid-2025, with the FIRS committed to supporting stakeholders throughout the transition.
This initiative reflects the FIRS’s dedication to leveraging technology and strategic partnerships to drive transparency, improve efficiency, and promote voluntary tax compliance within Nigeria’s tax ecosystem.
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