The goal of the Federal Inland Revenue Service’s (FIRS) electronic invoicing solution, or e-invoicing, is to transform the nation’s tax payment system.
The goal of the e-invoicing system, commonly referred to as the Merchant-Buyer Model, is to make tax compliance simpler, quicker, and more visible for all taxpayer types.
The e-invoicing solution went live on August 1 after a successful pilot phase, according to a statement from Dare Adekanmbi, Special Adviser on Media to FIRS chairman Zacch Adedeji. Large taxpayers, or businesses with yearly turnover of N5 billion or more, are anticipated to be the first to be onboarded on the platform.
“At least 1,000 organizations, or 20% of the more than 5,000 qualified firms, have already adopted the solution and started integrating with the FIRS MBS platform in less than two weeks since the program went online. started in November 2024.
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