- Nigeria’s Federal Inland Revenue Service (FIRS) will launch a pilot phase of the Merchant Buyer Solution (MBS) e-invoicing system in July 2025.
- The MBS e-invoice is a digital representation of transactions between suppliers and buyers, replacing traditional paper or electronic documents.
- The e-invoice includes all essential transaction details, such as supplier and buyer information, item descriptions, quantities, prices, taxes, and total amounts.
- The pilot phase will focus on large taxpayers.
- The FIRS will use the insights from the pilot phase to refine the system for broader implementation.
- The FIRS announced the introduction of the e-invoicing system on 18 September 2024.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
