BY BONNY AMADI
The Federal Inland Revenue Services has called on all stakeholders to effectively key into the FIRS national electronic invoicing (e-invoicing) initiative to be officially unveiled in July 2025.
E-Invoicing, digital transformative tax initiative will no doubt strengthen tax compliance, enhance international best practices and speedy tax administration of which tax consultants play a key role in Nigeria.
This was expressed by the FRIS tax experts at the second stake-holders forum of e-invoicing,” the pilot phase and the merchant buyers’ solution (MBS) which was held in Lagos on Monday.
In his welcome address, FIRS Director Technology, Kunle Olley said that e-invoicing aims at increasing tax compliance level, boosting the transparency between the buyers and the sellers. That’s what we want to actually achieve with this solution with you on board”.
To tax consultants, he said that e-invoicing is new to Nigeria, but it’s not new in the world. So, but we need to localize it to Nigeria, we can actually deliver the best for the country that we are all in”
The Chief of Staff to the CEFIRS/Head Strategic Management Office Tayo Koleosho in his opening address said that FIRS is seeking the cooperation of all stakeholders in the ongoing sensitization, trial and adoption, and roll out of the electronic invoicing (e-invoice) in Nigeria, which has been adopted across the world, and by some African countries.
Lauding the critical role of tax consultants in shaping Nigerian tax administration, Koleosh said FRS, commitment to modernization has driven the transformation from tax administration 1.1 O, which was a manual process, to tax administration 2.0 which was the digital integrations that we are currently experiencing with our tax pro applications, and to tax admission 3.0 which is and has Become the global business efficiency.
Matthew Osanekwu, Director Field operations management department, who represented coordinator Director Compliance Support Group.
He said that the adoption of e-invoicing tax system has become imperative because of the growing digital adaptation globally and Nigerian shouldn’t be left behind.
The brick-and-mortar approach to businesses is gradually giving way to tech driven business transactions and that there is now need for “us in FRS to begin to align ourselves with the current trend globally. Now”
He added that because of the growing trend in digital transactions across the world, the approach to the tax system itself also needs to change. “So, the approach to tax system, using manual approach in our tax system need to also change”.
He added that with the issue of tech driven businesses, issue of blockchain, Artificial Intelligence (AI), chat box and all that dominate the world presently, have driven the need for the FIRS to also align with what is currently going on globally.
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