Chai! Make una gather, because NRS don open new chapter for business wey no go sweet pass for tax matter! E be like say dem don launch correct E-Invoicing system wey go change the game for tax collection and compliance for Naija! This gbege wey dey hot now na di Merchant Buyer Solution, and na from August 1, 2025, e don start to dey work for large taxpayers.
According to wetin NRS talk through dem Executive Chairman, Zacch Adedeji, dis E-Invoicing system go help make tax collection dey transparent and ensure say businesses go dey comply voluntary. Dem carry out pilot phase before dem launch am, and dem don onboard plenty large taxpayers wey don start to transmit dem invoice data straight to di system. Na wetin dem dey call MBS platform, and dem no wan make am slow.
As di system don dey waka, soon dem go begin to roll out dis E-Invoicing package for medium and emerging taxpayers. If your business dey earn between N1 billion and N5 billion and you no don start to prepare, you dey fall hand o! Dem go start di engagement and pilot phases anytime beginning from 2026, and enforcement go follow for July 2026. As for emerging taxpayers wey dey below N1 billion, dem no go start dem own rollout until 2027, but make you no slack, because 2028 na when dem go start to enforce compliance.
NRS don talk say this move go help to close VAT leakages wey dey cause wahala for di country. Dey dey emphasize say every invoice go get unique verification code and timestamp, e go be like magic for tax authorities wey wan dey see wetin dey happen live time, and this go carry serious confidence come back into Nigerian business transactions. E mean say businesses go fit understand dem operation better and we go fit run serious data analytics on top wetin dey happen.
But chk am, e no be say everybody dey jump on top dis new waka immediately. Plenty companies still dey drag foot, with only about 20 percent of large taxpayers don start di integration wey dem dey expect. Some big players like MTN and Huawei don move faster, but many others dey ask for extension, because compliance no be small matter when e reach to update system.
For manufacturers and banks, this new system go mean say if dem partners no align, wey dey issue invoices no go fly, and that na serious wahala. If invoice no validate, money no go fit clear. Large companies wey rely on distributors, if dos distributors no fit issue validated invoices, dem go enter big trouble, as dem operations fit slow down, regardless of whether goods don dey move or not.
NRS dey promise say dem go work well with all stakeholders to make sure say everybody dey ready for di new system, and dem no wan see disruption for businesses. But my people, e be like say e go require plenty also on di part of businesses to prepare dem for dis digital transition. No be only to dey see di opportunities, na to grab am wellas!
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