The Digest:
The Federal Inland Revenue Service (FIRS) has unveiled an electronic invoicing system aimed at transforming tax compliance in Nigeria. According to reports from TheCable, the new e-invoicing platform requires large companies to complete integration by November 1, 2025, aligning with global best practices.
Key Points:
- The e-invoicing system, launched on August 1, 2025, tracks transactions in real-time.
- Large taxpayers with annual turnover exceeding N5 billion are prioritized.
- Over 1,000 firms have already begun integration.
- MTN Nigeria was the first company to submit live electronic invoices.
- Huawei Nigeria and IHS Nigeria will soon go live.
- A three-month extension has been granted for the final integration deadline.
- The system aims to reduce tax evasion and modernize tax collection.
FIRS' new e-invoicing system marks a critical step toward modernizing Nigeria’s tax landscape, empowering firms to align with global tax practices.
Sources: TheCable
