Nigeria’s Federal Inland Revenue Service (FIRS) announced it will introduce the FIRS e-invoicing system under the the Tax Administration and Enforcement Act 2007 on 18 September 2024.
The FIRS e-invoicing system will be an online digital solution to enhance tax administration and compliance.
Zacchaeus Adedeji, the Executive Chairman of the FIRS, stated that this initiative, which is a part of the agency’s digital transformation strategy, aims to enable real-time transaction validation and storage.
Adedeji emphasised the importance of e-invoicing, saying it would improve the country’s tax system.
He said that by leveraging technology and ensuring transparency, Nigeria can develop a tax system that supports sustainable growth and equitable development.
“Our collective efforts will pave the way for a more prosperous and resilient Nigeria. As we move forward, we encourage you to support these initiatives with constructive feedback and collaboration. By doing so, we can all build a stronger, more resilient economy that benefits everyone,” Adedeji said.
Adedeji believes this system will benefit business-to-consumer (B2C), business-to-business (B2B, and business-to-government transactions.
