- E-invoicing will be mandatory for VAT-registered businesses in Nigeria from July 2025.
- Applies to B2B, B2G, and B2C transactions over ₦50,000.
- Aims to modernize tax compliance and reduce fraud.
- Legal basis includes FIRS Establishment Act and National Information Technology Development Act.
- FIRSMBS will be the national e-invoicing platform.
- NITDA issued guidelines for data formatting and cybersecurity.
- B2B and B2G invoices require pre-clearance and validation by FIRSMBS.
- Validated invoices receive a Cryptographic Stamp Identifier and Invoice Reference Number.
- B2C transactions over ₦50,000 must be reported within 24 hours.
- E-invoices must use BIS Billing 3.0 UBL schema with 55 mandatory fields.
- Invoices can be submitted in XML or JSON format.
- Businesses must connect to FIRSMBS using RESTful APIs.
Source: vatit.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.
Latest Posts in "Nigeria"
- Nigeria Introduces USD300 Duty-Free Threshold for Low-Value Imports Starting September 2025
- Nigeria Suspends 4% FOB Levy on Imports Amidst Economic Concerns and Tax Reforms
- Federal Government Insists on New Tax Reform Despite IATA’s Criticism Over International Treaty Violations
- Stakeholders Criticize New Tax Reforms as Nigerian Government Insists Airlines Must Pay VAT
- Nigeria to Enforce VAT on Non-Resident Digital Services from 2026
