FIRS reveals the reason for the e-invoicing platform

• The Federal Inland Revenue Service has continued with its plans to boost taxation compliance successful Nigeria and easiness the system
• The bureau continued its stakeholder engagement with lipid and gas, manufacturing, and midstream players successful a two-day lawsuit successful Lagos
• The taxation head acquainted the stakeholders with its recently designed e-invoicing level acceptable for motorboat connected July 31, 2025

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

The Federal Inland Revenue has commenced plans to boost taxation outgo and compliance successful Nigeria.

The bureau continued its stakeholder engagement connected e-invoicing with ample taxpayers, targeting lipid and gas, midstream players, and the manufacturing assemblage successful Lagos connected Monday, May 26 and 27, 2025.

President Tinubu's authorities moves to revolutionise taxation medication successful Nigeria Credit: FIRS/State House
Source: Twitter

Top stakeholders onboarded by FIRS

The lawsuit brought apical stakeholders from the lipid and gas, manufacturing and midstream players to sermon the e-invoicing platform, designed by the bureau to boost documentation and efficaciously signifier retired insubstantial invoicing.

The FIRS pb consultant, Sodiq Arogundade, highlighted the value and features of the caller system, saying that it was designed to automate taxation compliance and trim the hassles of paperwork and bookkeeping.

He said the level volition automate compliance and trim the effort of manually signaling taxation payments.

“We person built an physics invoicing strategy for taxpayers and businesses to negociate their invoicing processes. But we request to guarantee that we person each usage cases, each feedback, each comments, and concerns of taxpayers handled portion we are gathering the system,” helium said.

FIRS explains the crushed for the platform

He explained that the indispensable purpose of the engagement was to stitchery information from taxpayers and businesses and refine the caller system, which is owed to motorboat connected July 31, 2025, according to the agency.

Arogundade further explained the advantages of the system, saying it allows companies to automate workflows, reducing the effort for mean bookkeeping.

He disclosed that the FIRS wants to beryllium portion of the bookkeeping lifecycle truthful that it can place the taxation elements of the invoice and bash the occupation for them.

He stated that the strategy would trim the administrative hassles connected businesses and besides guarantee close and timely taxation compliance.

Mike Adoga, the Acting Director of Tax Automation astatine the agency, stressed the imaginable of the e-invoicing level to nutrient real-time transaction visibility crossed the sectors and boost compliance.

According to Adoga, the determination is astir physics and real-time exchanges betwixt businesses and their customers, enabled by the FIRS technology.

He said that the benefits see accuracy and efficiency.

The level to seizure assorted taxes

The e-invoicing level volition seizure VAT astatine 7.5%, withholding tax, institution tax, and idiosyncratic income tax.

Adoga said the e-invoicing level volition adjacent the gross loophole, boost compliance, and align Nigeria’s taxation strategy to planetary champion practices.

He besides stressed the value of stakeholder engagement successful unravelling the e-invoicing system, saying that determination are inactive misconceptions, which are helping the FIRS to adjacent the gap.

Zaach Adedeji introduces revolutionary e-invoicing to boost compliance. Credit: FIRS
Source: Facebook

Adoga encouraged businesses to leverage the strategy to amended taxation compliance and trim disputes.

FIRS continues onboarding ample taxpayers

Legit.ng earlier reported that the FIRS has started onboarding ample taxpayers connected its Merchant Buyer Solution (MBS) interface.

It volition statesman implementing the nationalist e-invoicing task afloat connected July 25, 2025.

The task is simply a Merchant Buyer Solution that provides a integer practice of transactions betwixt suppliers and buyers, replacing accepted insubstantial oregon physics documents specified arsenic invoices, recognition notes, and debit notes.

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Source: Legit.ng