- The federal government inaugurated a national e-invoicing solution inter-agency steering committee.
- The committee will oversee the rollout of the new e-invoicing platform called Merchant Buyer Solution.
- All VAT-registered businesses must use the Federal Inland Revenue Service MBS platform for e-invoices.
- The platform aligns with the Tax Administration and Enforcement Act of 2007.
- It aims to modernize fiscal infrastructure, enhance transparency, and curb tax evasion.
- The system allows real-time monitoring of commercial transactions.
- It supports interoperability among stakeholders for seamless data sharing.
- The platform integrates with existing enterprise resource planning systems used by businesses and government agencies.
Source: ensafrica.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.
