The Nigeria Revenue Service (NRS) has commenced the implementation timeline and mandatory adoption of the National E-Invoicing & Electronic Fiscal System (EFS), also known as the Merchant Buyer Solution (MBS) for large taxpayers.
As communicated in the Notice signed by NRS chairman, Zach Adedeji, all large taxpayers are required to complete the process of onboarding, integration, testing, and commence invoice transmission to the NRS E-Invoicing platform in accordance with the prescribed implementation framework.
Compliance Process
Compliance includes:
– Completion of onboarding on the NRS Merchant Buyer Solution (MBS);
– Successful integration of taxpayer systems through approved Access Point Providers (APPs) and/or Systems Integrators (SIs);
– Completion of all required validation and testing activities; and
– Active transmission of invoices to the NRS E-Invoicing platform in line with approved standards and guidelines;
– Ensure you receive only compliant e-invoices with a valid Invoice Reference Number (IRN) from suppliers.
Affected taxpayers are therefore advised to urgently conclude all outstanding onboarding and integration activities and commence invoice transmission before the compliance deadline, failing which regulatory and enforcement actions will be triggered in accordance with the provisions of the relevant tax laws and regulations.
