- The Merchant Buyer Solution (FIRSMBS eInvoice) is a government initiative aimed at all VAT-registered businesses, facilitating the issuance of electronic invoices as per the Tax Administration and Enforcement Act 2007, thereby replacing traditional invoicing methods.
- The eInvoice system enhances efficiency and compliance by automating invoicing processes, reducing errors, streamlining tax return filings, and providing real-time tracking and interoperability among various business accounting systems.
- To get started with eInvoicing, businesses must register with the FIRS using a Tax Identification Number (TIN) and can choose between using the FIRSMBS portal or implementing an API for direct data transmission, catering to different business needs and sizes.
Source gov.ng
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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