Nigeria Revenue Service Sets July 31 Deadline for E-invoicing Compliance

The Nigeria Revenue Service (NRS) has mandated that all large taxpayers must fully adopt the national e-invoicing and electronic fiscal system (EFS) by July 31. This directive follows a February public notice outlining the implementation timeline and mandatory adoption of the system, also known as the Merchant Buyer Solution (MBS).

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NRS has already commenced compliance monitoring activities in order to assess the level of adherence to the e-invoicing mandate among large taxpayers.

NRS Chairman Zacch Adedeji personally signed the notice, emphasizing the need for large taxpayers to complete onboarding, integration, testing, and begin transmitting invoices to the NRS e-invoicing platform. The NRS has already initiated compliance monitoring to assess adherence to the e-invoicing mandate. Failure to comply could lead to regulatory and enforcement actions under relevant tax laws.

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Consequently, any defaulting member may be subjected to appropriate regulatory and enforcement actions in accordance with the provisions of the relevant tax laws and regulations.

Large taxpayers are defined as companies with a gross turnover of N5 billion or more. As of the first quarter of this year, over 1,000 companies have already met the requirement. Compliance involves completing onboarding on the NRS MBS, integrating taxpayer systems through approved providers, conducting validation and testing, and actively transmitting invoices in line with approved standards. The NRS has expressed commitment to supporting taxpayers through this transition.

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The NRS appreciates the cooperation of taxpayers and remains committed to providing the necessary support to ensure the successful implementation of the national e-invoicing regime.