The Federal Inland Revenue Service (FIRS) has announced plans to commence the pilot phase of its proposed electronic invoicing (e-invoicing) and electronic valuation (e-valuation) solutions.<\/p>\n\n\n\n
As part of preparations for the rollout, the tax agency has begun engaging stakeholders on the initiative, which is expected to enhance digital taxation, improve compliance, and ensure transparency by leveraging technology to monitor and evaluate taxable goods and services accurately.<\/p>\n\n\n\n
Speaking at a stakeholders\u2019 engagement meeting in Lagos, Amina Ado, Coordinating Director of the Large Tax Group at FIRS, described the National E-Invoicing Solution as a transformative tool for tax administration. Represented by Dr. Olabode Olatunji, Director of Large Tax, Telecoms, and Financials, she emphasized the project\u2019s role in fostering efficiency, transparency, and accountability in Nigeria\u2019s tax system.<\/p>\n\n\n\n
\u201cOur engagement today serves as a crucial platform for dialogue, collaboration, and shared insights as we navigate the pilot rollout of this solution,\u201d Ado stated. \u201cThe e-invoicing system is not just a technological innovation but a strategic enabler that aligns with international best practices, ensuring seamless tax compliance, reducing revenue leakages, and enhancing the ease of doing business in Nigeria.\u201d<\/p>\n\n\n\n
According to FIRS, the pilot phase will begin with selected large taxpayers, with insights from this phase guiding the broader implementation across various sectors.<\/p>\n\n\n\n
Acknowledging the challenges of transitioning to a new system, Ado assured stakeholders of the agency\u2019s readiness to provide necessary support and guidance for a seamless adoption process.<\/p>\n\n\n\n
Similarly, Tayo Koleoso, Chief of Staff to the Executive Chairman of FIRS, emphasized the agency\u2019s commitment to engaging taxpayers. \u201cAs we start this new innovation of deploying an electronic invoice, also called a merchant buyers\u2019 service solution, the idea is to meet with large taxpayers and understand their requirements as we continue our journey into what we call Tax Administration Solution 3.0,\u201d he said.<\/p>\n\n\n\n
The FIRS remains optimistic that the new system will streamline tax operations and foster improved revenue collection nationwide.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federal Inland Revenue Service (FIRS) has announced plans to commence the pilot phase of its proposed electronic invoicing (e-invoicing) and electronic valuation (e-valuation) solutions. As part of preparations for the rollout, the tax agency has begun engaging stakeholders on the initiative, which is expected to enhance digital taxation, improve compliance, and ensure transparency by…<\/p>\n","protected":false},"author":2,"featured_media":1480,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pagelayer_contact_templates":[],"_pagelayer_content":"","sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[1,38,6],"tags":[447,448,445,446],"class_list":["post-1468","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news","category-tech","tag-e-invoicing","tag-e-valuation","tag-firs","tag-pilot-phase"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t