The Federal Inland Revenue Service (FIRS) has revealed plans to introduce an e-invoicing platform aimed at improving Nigeria’s tax administration system.
The digital platform, called FIRS e-Invoice, is designed to streamline invoice processing in compliance with the Tax Administration and Enforcement Act of 2007.
FIRS Executive Chairman, Zacchaeus Adedeji, announced this during a stakeholders’ engagement session organized by the Lagos Chamber of Commerce and Industry (LCCI) and FIRS in Lagos on Wednesday.
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Adedeji stated the importance of e-invoicing in modernizing and improving the efficiency of Nigeria’s tax system, stating, “Our joint efforts will pave the way for a more prosperous and resilient Nigeria.
As we move forward, we encourage support for these initiatives through constructive feedback and collaboration.”
He further explained that the implementation of e-invoicing is expected to promote a more transparent and robust tax environment, benefiting both businesses and the broader economy.
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EKO HOT BLOG reports that FIRS has assured businesses that the new system will create a more business-friendly tax administration.
Adedeji also noted that recent restructuring within the agency has resulted in the establishment of a one-stop shop for taxpayers based on their turnover thresholds.
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