BUSINESS

FIRS LAUNCHES NATIONAL E-INVOICING SOLUTION STEERING COMMITTEE TO BOOST TAX COMPLIANCE AND TRANSPARENCY
The Federal Inland Revenue Service (FIRS) has officially inaugurated the National E-Invoicing Solution Inter-Agency Steering Committee as part of its efforts to modernize Nigeria’s tax system. The launch, which took place on Tuesday, April 29, 2025, at FIRS headquarters in Abuja, marks a significant milestone in the implementation of the E-Invoicing Initiative aimed at enhancing tax compliance, transparency, and efficiency within the country’s tax ecosystem.
The event featured the presentation of a comprehensive roadmap outlining the key milestones for the successful rollout of the E-Invoicing Initiative. This initiative is expected to play a critical role in reducing tax evasion, automating transaction monitoring, and fostering greater accountability in business exchanges across various sectors.
A major focus of the session was the emphasis on collaboration between FIRS and key stakeholders from the financial and regulatory sectors, including the Nigeria Inter-Bank Settlement System (NIBSS), Nigeria Customs Service, financial institutions, and taxpayers. This multi-stakeholder approach highlights FIRS’s commitment to leveraging technology and strategic partnerships to enhance transparency and encourage voluntary tax compliance.
FIRS also emphasized that the E-Invoicing initiative is part of its broader strategy to harness modern technology to improve Nigeria’s tax administration system. By automating invoicing processes and streamlining transactions, the initiative will not only enhance tax collection but also minimize opportunities for tax evasion.
Through the introduction of the E-Invoicing Solution, FIRS aims to create a more transparent and accountable tax environment, helping businesses and taxpayers adhere to regulations more easily and confidently.
With this initiative, FIRS continues to demonstrate its commitment to transforming Nigeria’s tax landscape, fostering a culture of compliance, and increasing government tax revenue.
"This represents a significant development in our ongoing coverage of current events."— Editorial Board