Nigeria Revenue Service advances e‑invoicing compliance a year after tax reform

The Nigeria Revenue Service (NRS) marked the first anniversary of its sweeping tax reforms, emphasizing the goal of voluntary compliance through taxpayer education, streamlined procedures and expanded digital platforms. The agency reported higher registration and filing rates but noted ongoing challenges reaching informal sector operators and small businesses.

As part of the reform rollout, NRS requirements for electronic invoicing are tightening. Large taxpayers are now required to transmit invoices through the Merchant Buyer Solution (MBS) platform, where each invoice receives a reference number that validates compliance and enables VAT input credit for buyers. The NRS warned that firms that fail to integrate by the enforcement deadline may face penalties and that non‑compliant suppliers could block buyers from claiming VAT credits. Most large taxpayers have already begun sending data to the platform, and the agency is preparing to extend the e‑invoicing framework to medium‑size firms with annual turnovers between N1 billion and N5 billion. A compliance breakfast in Lagos on July 14 will bring together NRS officials, platform providers and finance executives to discuss integration timelines and compliance risks.