FG Launches E-Invoicing Committee to Combat Tax Evasion and Boost Revenue

The Federal Government has inaugurated the National Electronic Invoicing Inter-Agency Steering Committee to oversee the deployment of a new digital invoicing platform aimed at improving tax transparency and curbing tax evasion. Officially launched in Abuja, the initiative is spearheaded by the Federal Inland Revenue Service (FIRS) and forms part of broader efforts to modernize Nigeria’s fiscal infrastructure. The platform, called the Merchant Buyer Solution, is designed to enhance real-time monitoring of commercial transactions and improve compliance, contributing to increased government revenue.

Mr. Tayo Koleoso, Chairman of the Steering Committee, emphasized that the digital invoicing system would provide real-time visibility into business operations, fostering transparency, efficiency, and revenue mobilization. The project is not only a technological upgrade but also a transformative initiative to support national development by streamlining invoice management across both the public and private sectors.

The new platform, developed in alignment with the Federal Government’s Digital Public Infrastructure framework, will standardize invoice creation and exchange processes. Lead Consultant Mr. Sadiq Arogundade highlighted that the system ensures secure data sharing, cross-border invoice exchange, and integration with existing platforms like Enterprise Resource Planning. The rollout of this system, which is currently being piloted with multinational corporations, is set to address the issue of fraudulent invoices used for tax evasion.

The phased rollout of the platform, which includes a pilot phase with organizations like Huawei and multinational firms, is expected to expand to accommodate smaller taxpayers after refining the system. The government aims to tackle challenges in Nigeria’s fiscal system by eliminating fake invoices, reducing revenue leakages, and aligning with global best practices in tax administration. The Steering Committee will provide strategic oversight and guide necessary reforms to ensure the platform’s successful implementation.

Source: Punch