{"id":356267,"date":"2025-02-19T06:59:37","date_gmt":"2025-02-19T05:59:37","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=356267"},"modified":"2025-02-19T06:59:37","modified_gmt":"2025-02-19T05:59:37","slug":"e-invoicing-firs-to-onboard-selected-large-taxpayers-in-july","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2025\/02\/19\/e-invoicing-firs-to-onboard-selected-large-taxpayers-in-july\/","title":{"rendered":"E-Invoicing: FIRS to Onboard Selected Large Taxpayers in July"},"content":{"rendered":"<ul class=\"marker:text-textOff list-disc\">\n<li>\n<p class=\"my-0\"><strong>FIRS is rolling out its e-invoicing system, starting with large taxpayers in July 2025, to enhance tax compliance and streamline tax administration<\/strong><\/p>\n<\/li>\n<li>\n<p class=\"my-0\"><strong>The e-invoicing system aims to provide a digital representation of transactions, improving efficiency, transparency, and accountability in Nigeria\u2019s tax system<\/strong><\/p>\n<\/li>\n<\/ul>\n<hr \/>\n<p data-pm-slice=\"1 1 []\">The Federal Inland Revenue Service (FIRS) has intensified stakeholder engagement on the phased rollout of its e-invoicing system, also known as the Merchant Buyer Solution.<\/p>\n<p data-pm-slice=\"1 1 []\">The service highlights the cost-saving benefits and potential to enhance tax compliance and business efficiency.<\/p>\n<p>FIRS will begin the first phase of the rollout with selected large taxpayers in July 2025.<\/p>\n<p>At a stakeholder meeting on the pilot launch, FIRS encouraged taxpayers to adopt the system, emphasizing that e-invoicing represents the future of taxation.<\/p>\n<p>According to FIRS, the Merchant Buyer Solution provides a digital representation of transactions between suppliers and buyers, replacing traditional paper and electronic invoices, credit notes, and debit notes.<\/p>\n<p>The <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/09\/07\/firs-speaks-on-vat-judgement-asks-taxpayers-to-maintain-status-quo\/\">FIRS<\/a> Merchant Buyer Solution (FIRSMBS) is a digital portal designed for all VAT-registered businesses to manage e-invoices in compliance with Section 25, Part 5 of the Tax Administration and Enforcement Act 2007.<\/p>\n<p>Mr. Tayo Koleosho, Chief of Staff to the Executive Chairman of FIRS and Coordinating Director of the Strategic Management Office, stated that the solution is being developed locally to streamline tax administration through digital transformation.<\/p>\n<p>He explained that FIRS is advancing towards Tax 3.0, an integrated system that aims to simplify taxation for both taxpayers and collectors.<\/p>\n<p>\u201cWe are here to discuss and consult on our digitalization approach. Tax administration evolved from paper-based (Tax 1.0) to digitized systems (Tax 2.0). Now, we are transitioning to full automation. Our goal with Tax 3.0 is to make tax compliance a natural part of business operations for large taxpayers and SMEs through seamless system integration,\u201d he said.<\/p>\n<p>In his presentation, Mr. Mathew Gbonjubola, Coordinating Director of the Compliance Support Group, represented by Sunday Oke-Owo, Coordinating Director of the Competent Authority Department, outlined the benefits of e-invoicing, including enhanced compliance, reduced errors, business efficiency, improved transparency, ease of refund processing, and seamless data recovery.<\/p>\n<p>Amina Ado, Coordinating Director of the Large Taxpayer Groups, represented by Mr. Olatunji Olabode, announced that FIRS will implement the pilot phase with selected large taxpayers.<\/p>\n<p>She described the initiative as a strategic step towards improving efficiency, transparency, and accountability in Nigeria\u2019s tax administration system.<\/p>\n<p>\u201cThe e-invoicing system is more than a technological innovation; it is a strategic enabler that aligns with international best practices. It ensures seamless tax compliance, minimizes revenue leakages, and enhances Nigeria\u2019s business environment,\u201d she stated.<\/p>\n<p>She further noted that insights from the pilot phase will shape the broader implementation, ensuring the solution meets the needs of taxpayers across various sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FIRS is rolling out its e-invoicing system, starting with large taxpayers in July 2025, to enhance tax compliance and streamline tax administration The e-invoicing system aims to provide a digital representation of transactions, improving efficiency, transparency, and accountability in Nigeria\u2019s tax system The Federal Inland Revenue Service (FIRS) has intensified stakeholder engagement on the phased [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":341959,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored 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