business News

FIRS Launches e-Invoicing Platform as Over 1,000 Companies Commence Integration

The program, which officially commenced on August 1, aims to streamline tax compliance, enhance transparency, and curb tax evasion nationwide.

 

Dr. Zacch Adedeji, Executive Chairman of FIRS, made the announcement in a statement issued by his Special Adviser on Media, Dare Adekanmbi, in Abuja on Sunday.

 

Adedeji explained that the e-Invoicing solution follows a successful pilot phase initiated in November 2024 and is now being implemented in stages, beginning with large taxpayers, defined as companies with an annual turnover of N5 billion and above.

 

“In less than two weeks since the initiative went live, no fewer than 1,000 companies, constituting 20% of over 5,000 eligible firms, have embraced the solution and commenced integration with the FIRS MBS platform,” Adedeji stated.

 

Among the pioneering adopters, MTN Nigeria became the first taxpayer to transmit live electronic invoices to FIRS, formally inaugurating the new e-Invoicing regime.

 

Other major corporations such as Huawei Nigeria and IHS Nigeria have successfully completed test transmissions and are expected to go live in the coming days.

 

To facilitate the onboarding process, FIRS has partnered with the National Information Technology Development Agency (NITDA) to integrate service providers into the ecosystem.

 

These providers will function as System Integrators and Access Point Providers, ensuring seamless integration and invoice transmission for taxpayers.

 

“These providers will facilitate the onboarding, integration, and invoice transmission processes for taxpayers,” Adedeji explained.

 

Extension of Deadline and Stakeholder Support

While acknowledging the efforts of companies striving to meet the initial August 1 deadline, Adedeji noted that some encountered operational challenges. In response, FIRS has approved a three-month extension, moving the final deadline for onboarding to November 1, 2025.

 

“In the spirit of encouraging voluntary compliance, FIRS management has graciously approved a three-month extension of the deadline,” he said.

 

“The FIRS e-Invoicing implementation team will continue to offer support through stakeholder engagements, including webinars, workshops, and town hall meetings, to ensure a seamless transition for all large taxpayers.”

 

Ushering in a New Era in Tax Administration

The national e-Invoicing solution, developed as an Electronic Fiscal System (EFS), provides real-time visibility into commercial transactions, ensuring the authenticity, accuracy, and completeness of invoices.

 

It aligns with global best practices and supports the Federal Government’s broader objectives of enhancing revenue assurance, reducing tax evasion, and modernizing tax administration.

 

The platform is also a key component of the Nigeria Revenue Services Reform Act, which seeks to harmonize revenue reporting and establish a single source of truth for government revenues. Following the onboarding of large taxpayers, the system will be extended to medium-sized and emerging businesses, further expanding its reach and impact.

 

Adedeji commended all stakeholders, including taxpayers, consultants, and service providers, for their cooperation and commitment to the success of the initiative, emphasizing that the e-Invoicing platform represents a transformative shift in Nigeria’s fiscal landscape.

admin

About Author

Leave a comment

Your email address will not be published. Required fields are marked *

You may also like

Foreign News News

Police Arrest Murder Suspect In Lagos, Recover Exhibits

  • February 10, 2025
Police Arrest Murder Suspect In Lagos, Recover Exhibits The spokesman of the Nigeria Police Force (NPF) Muyiwa Adejobi said Okeke
Foreign News News

Falana Sues Meta, Seeks $5m For Invasion Of Privacy

  • February 10, 2025
Falana, through his lawyer, Olumide Babalola, accused Meta of publishing motion images and voice captioned, “AfriCare Health Center,” on their