Home Business FG Launches Electronic Invoicing Committee to Enhance Tax Transparency
Business

FG Launches Electronic Invoicing Committee to Enhance Tax Transparency

Share
FG Launches Electronic Invoicing Committee to Enhance Tax Transparency | Daily Report Nigeria
Share
  • 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.”

ATTENTION: Click HERE to join our WhatsApp group and receive News updates directly on your WhatsApp!

READ ALSO: FG Disburses N1.2tn to LGs via States, Defies Supreme Court Order on Direct Funding

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.”

 

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
SERAP Sues CBN Over Non-Disclosure of LG Allocations After Supreme Court Ruling | Daily Report Nigeria
Business

SERAP Sues CBN Over Non-Disclosure of LG Allocations After Supreme Court Ruling

SERAP has sued the Central Bank of Nigeria (CBN) for failing to...

NNPC Shuts Down Port Harcourt Refinery for Maintenance | Daily Report Nigeria
Business

NNPC Shuts Down Port Harcourt Refinery for Maintenance

The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a scheduled...

Naira Gains Ground Against Dollar at Official, Black Markets as Week Closes Strong | Daily Report Nigeria
Business

Naira Gains Ground Against Dollar at Official, Black Markets as Week Closes Strong

The naira recorded a notable appreciation against the U.S. dollar at both...

Dangote Refinery Gulps 13% of Nigeria Crude Exports – Report
Business

Dangote Refinery Slashes Petrol Prices by N15 Nationwide

Dangote Petroleum Refinery has reduced the pump price of petrol by N15...

5win
RocketplayRocketplay casinoCasibom GirişJojobet GirişCasibom Giriş GüncelCasibom Giriş AdresiCandySpinzDafabet AppJeetwinRedbet SverigeViggoslotsCrazyBuzzer casinoCasibomJettbetKmsauto DownloadKmspico ActivatorSweet BonanzaCrazy TimeCrazy Time AppPlinko AppSugar rush