DistantNews
Support us

Firms accelerate NRS e-invoicing integration as deadline nears

From The Punch · () English

Summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Businesses in Nigeria are accelerating integration into the National Revenue Service’s e-invoicing framework as deadlines approach.
  • The framework requires businesses to transmit invoices through the Merchant Buyer Solution platform for validation and assignment of an Invoice Reference Number.
  • Non-compliant businesses face compliance measures, and buyers may be unable to claim VAT input credit on transactions with non-compliant suppliers.

Businesses across Nigeria are intensifying their efforts to integrate with the National Revenue Service’s (NRS) e-invoicing framework. This push comes as compliance requirements for large taxpayers become effective and medium taxpayers prepare to join the platform later this year. The transition has led to increased collaboration between the NRS, accredited platform providers, and technical partners to facilitate business onboarding.

The NRS e-invoicing framework mandates that businesses transmit invoices via the Merchant Buyer Solution (MBS) platform. Each transaction is validated and assigned an Invoice Reference Number, serving as proof of compliance. An implementation notice issued by the NRS on February 17 warned that businesses failing to integrate could face compliance measures once enforcement begins for their respective categories. Furthermore, buyers transacting with non-compliant suppliers risk being unable to claim Value Added Tax (VAT) input credit on such purchases.

Everyone benefits from the bigger picture: taxpayers, banks, service providers, and government.

— Mohammed BawaProject Manager of the National E-Invoicing Project at the NRS, describing the benefits of the e-invoicing initiative.

Mohammed Bawa, Project Manager of the National E-Invoicing Project at the NRS, described the initiative as a collaborative effort benefiting taxpayers, banks, service providers, and the government. He noted significant progress, with the majority of large taxpayers already onboarded and successfully transmitting invoice data to the MBS platform. This indicates a positive trend towards widespread adoption among major businesses.

DigiTax, an NRS-accredited e-invoicing platform provider, is actively supporting businesses in connecting their financial and enterprise resource planning (ERP) systems to the national e-invoicing infrastructure. Olumide Akinsola, Country Director of DigiTax Nigeria, highlighted that many businesses are seeking clarity on implementation timelines, integration requirements, and compliance risks. To address these concerns, DigiTax is hosting an E-Invoicing Compliance Breakfast to facilitate direct discussions between NRS officials, technical experts, and finance executives.

The questions we are hearing from large and medium businesses are practical: how long integration takes, what it means for their finance and ERP environments, and what exposure they carry from suppliers who have not yet onboarded.

— Olumide AkinsolaCountry Director of DigiTax Nigeria discussing common business concerns regarding e-invoicing integration.
DistantNews Editorial

Originally published by The Punch. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.