- Nigeria’s Federal Inland Revenue Service launched an e-invoicing platform called Merchant Buyer Solution on 29 April 2025
- The rollout begins with a pilot for select large taxpayers and will expand to all large taxpayers and eventually to medium and small businesses
- The platform is part of the FIRS Digital Transformation Strategy and is mandatory for all VAT registered businesses
- The e-invoice replaces traditional documents and includes transaction details like supplier and buyer information, item descriptions, quantities, prices, tax, and total amounts
- It supports B2B, B2C, and B2G transactions and allows real-time validation and storage
- Benefits include streamlined processes, enhanced compliance, improved efficiency, reduced errors, and real-time invoice tracking
- Businesses must register with FIRS to obtain a Tax Identification Number to access the platform
- The FIRS held a stakeholder engagement on 18 February 2025 to prepare for the pilot phase
- The e-invoicing system was introduced under the Tax Administration and Enforcement Act 2007 on 18 September 2024
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
