The Federal Inland Revenue Service (FIRS) has commenced an electronic invoicing solution (e-invoicing) aimed at revolutionising tax payment in the country.

The e-invoicing system, also known as the Merchant-Buyer Model, is aimed at making tax compliance easier, faster and more transparent for all categories of taxpayers.

A statement by Dare Adekanmbi, Special Adviser on Media to the FIRS chairman, Zacch Adedeji, said the e-invoicing solution went live on August 1, following a successful pilot phase which began in November 2024.

"Large taxpayers, which are companies with annual turnover of N5billion and more, are expected to be the first to be onboarded on the platform.

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"In less than two weeks of the initiative going live, no fewer than 1, 000 companies, representing 20 percent of over 5, 000 eligible firms, have so far embraced the solution and commenced integration with the FIRS MBS platform.

"The remaining large taxpayers are expected to come onboard on or before November 1, which is the deadline for all the firms in the category to finalise their onboarding and integration processes.

"MTN Nigeria became the first taxpayer to transmit live electronic invoices to the FIRS, officially ushering in the e-invoicing regime. Huawei Nigeria and IHS Nigeria have also concluded test transmissions and are set to go live in the coming days.

"In collaboration with the National Information Technology Development Agency (NITDA), Service Providers have been incorporated into the ecosystem to act as both System Integrators and Access Point Providers. These providers will facilitate the onboarding, integration, and invoice transmission processes for taxpayers," he said