The Federal Inland Revenue Service (FIRS) has announced plans to implement an e-invoicing platform to advance Nigeria’s tax administration system.
Newsonspot reports that the new digital platform, named FIRS e-Invoice, is set to streamline invoice management in alignment with the Tax Administration and Enforcement Act of 2007.
The Executive Chairman of FIRS, Zacchaeus Adedeji, made the announcement during the LCCI-FIRS Organised Private Sector Stakeholders Engagement held in Lagos on Wednesday.
Adedeji emphasised the significance of e-invoicing for modernising and enhancing the efficiency of Nigeria’s tax system stating “Our collective efforts will pave the way for a more prosperous and resilient Nigeria. As we advance, we encourage support for these initiatives through constructive feedback and collaboration.”
He added that the introduction of e-invoicing is expected to foster a more robust and transparent tax environment, benefiting both businesses and the economy at large.
The Federal Inland Revenue Service has assured businesses in the country of a friendly tax administration.
Adedeji explained that the ongoing restructuring at the agency had led to the creation of a one-stop shop for taxpayers according to their turnover thresholds.
