FG Launches Electronic Invoicing Committee to Enhance Tax Transparency

• The Federal Government has launched the National Electronic Invoicing Inter-Agency Steering Committee to curb tax evasion.

• The committee will oversee the rollout of a digital invoicing platform, enhancing transparency and real-time monitoring.

• The platform aims to boost government revenue, improve compliance, and standardize invoice creation.

The Federal Government has inaugurated the National Electronic Invoicing Inter-Agency Steering Committee to oversee the rollout of a new digital invoicing platform, the Merchant Buyer Solution.

The initiative, spearheaded by the Federal Inland Revenue Service, aims to enhance transparency, improve real-time monitoring of commercial transactions, and curb tax evasion.

According to Mr. Tayo Koleoso, Chief of Staff to the FIRS Executive Chairman and Chairman of the Steering Committee, “This initiative is not just a technological upgrade; it is a transformative national project. It is expected to enhance transparency, improve efficiency, and increase revenue mobilisation to support national development.”

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The platform, built on the Universal Business Language framework, allows for digital creation, validation, and exchange of invoices in line with international standards.

Lead Consultant Sadiq Arogundade stated, “We are working to ensure invoice exchange and creation conform to the DPI framework, which includes identity, data exchange, and payments. Identity is key—we now know where the invoice originates and where it is going. This gives a new level of integrity and oversight to transactions.”