Key points
- NRS directs all large taxpayers to adopt the national e-invoicing system by July 31.
- Companies with annual turnover of N5 billion and above are affected.
- More than 1,000 companies had complied as of the first quarter.
- Defaulting taxpayers risk regulatory and enforcement actions.
Main story
The Nigeria Revenue Service (NRS) has fixed July 31 as the deadline for all large taxpayers to fully adopt the national e-invoicing and Electronic Fiscal System (EFS), as part of efforts to strengthen tax administration and improve compliance.
The directive follows an implementation timeline issued by the agency on Feb. 17, requiring affected companies to complete onboarding, system integration, testing and the transmission of invoices through the NRS e-invoicing platform.
According to the NRS, compliance monitoring has already commenced to assess how well large taxpayers are adhering to the mandatory rollout of the electronic invoicing regime.
The agency warned that organisations that fail to meet the deadline could face regulatory and enforcement measures under applicable tax laws and regulations.
Large taxpayers, defined as companies with annual gross turnover of N5 billion or more, have been advised to complete all outstanding onboarding and integration processes before the deadline.
The NRS disclosed that more than 1,000 companies had successfully complied with the new requirements as of the first quarter of the year.
To achieve full compliance, taxpayers are expected to complete onboarding on the Merchant Buyer Solution (MBS), integrate their systems through approved Access Point Providers (APPs) or Systems Integrators (SIs), conclude validation and testing procedures, and actively transmit invoices in line with approved standards.
The agency also advised businesses to accept only compliant electronic invoices carrying valid Invoice Reference Numbers (RIN) from their suppliers to ensure seamless participation in the new tax framework.
The issues
The nationwide e-invoicing initiative is designed to improve tax transparency, strengthen revenue collection and enhance digital compliance, but businesses must complete technical integration before enforcement begins.
What’s being said
“Any defaulting member may be subjected to appropriate regulatory and enforcement actions in accordance with the provisions of the relevant tax laws and regulations.” — Nigeria Revenue Service (NRS)
What’s next
The NRS will continue monitoring compliance ahead of the July 31 deadline, after which enforcement actions are expected against eligible companies that have not fully implemented the e-invoicing system.
Bottom line
The July 31 deadline marks a significant step in Nigeria’s transition to a fully digital tax administration system, with large taxpayers expected to complete e-invoicing adoption or risk regulatory sanctions.
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