Nigeria’s Federal Inland Revenue Service (FIRS) has initiated a stakeholder engagement on 18 February 2025 with large taxpayer groups to prepare for the upcoming pilot phase of the Merchant Buyer Solution, an e-invoicing system scheduled to launch in July 2025.
The FIRS MBS (eInvoice) is a digital representation of transactions between suppliers and buyers, effectively replacing traditional paper or electronic documents such as invoices, credit notes, and debit notes.
This e-invoice includes all essential transaction details, such as supplier and buyer information, item descriptions, quantities, prices, taxes, and total amounts. Designed to facilitate real-time or near real-time validation and storage of transactions, it caters to business-to-business (B2B), business-to-consumer (B2C), and business-to-government (B2G) transactions.
FIRS MBS (e-invoice) is a government initiative under the FIRS Digital Transformation Strategy (2023/24) that shall be used by all Value Added Tax (VAT) registered taxpayers’ businesses to manage the issuance of e-invoices by the Tax Administration and Enforcement Act 2007.
The FIRS stated that the pilot phase would focus on large taxpayers. The insights from this phase will guide the refinement of the system for broader implementation across various sectors.
Earlier, the FIRS announced it will introduce the FIRS e-invoicing system under the Tax Administration and Enforcement Act 2007 on 18 September 2024.
