The Nigeria Revenue Service (NRS) has started monitoring large companies to confirm they are using the national electronic invoicing system before the 31 July, 2026 deadline,warning that firms that fail to comply could face enforcement under tax laws.
The exercise targets businesses with annual gross turnover of N5 billion and above and marks the final stage before full enforcement of the e-invoicing policy.
It is significant because the exercise will determine which companies have met the new tax reporting rules before sanctions begin.
Read Rated News
Tinubu hails new tax reforms as pathway to prosperity at NRS headquarters launch
New tax laws do not target bank accounts, says NRS chairman
NRS denies introduction of new VAT on bank transfers
The compliance checks follow a public notice first issued by the NRS in February, which set out the timetable for mandatory use of the National E-Invoicing and Electronic Fiscal System, also called the Merchant Buyer Solution (MBS). The agency is now shifting attention from preparation to verification as the transition period draws to an end.
The electronic invoicing system is part of the government’s plan to improve tax administration through digital records of business transactions. The policy also seeks to make invoice reporting more uniform and strengthen tax compliance among large businesses.
Compliance checks enter final stage
On Sunday, 19 July, Dare Adekanmbi, Special Adviser on Media to the NRS Chairman, said the agency had already started monitoring the level of compliance among large taxpayers ahead of the deadline.
He said companies that have not completed the process risk enforcement under existing tax laws.
“The NRS has already commenced compliance monitoring activities in order to assess the level of adherence to the e-invoicing mandate among large taxpayers,” he said.
He also warned: “Consequently, any defaulting member may be subjected to appropriate regulatory and enforcement actions in accordance with the provisions of the relevant tax laws and regulations.”
The NRS urged affected companies to complete every outstanding onboarding and system integration task and begin transmitting invoices before 31 July.
The agency also said it would continue supporting businesses to achieve full implementation of the electronic invoicing system before the deadline.
More than 1,000 firms already onboard
The NRS said over 1,000 companies had already met the e-invoicing requirements by the first quarter of 2026.
Compliance includes registering on the Merchant Buyer Solution, integrating internal systems through approved Access Point Providers or Systems Integrators, completing validation and testing, and transmitting invoices to the NRS platform under approved standards.
The agency also urged businesses to accept only electronic invoices that carry valid Invoice Reference Numbers from suppliers. This step is intended to help maintain compliance throughout the supply chain as more companies adopt the system.
Large taxpayers, identified by the NRS as businesses with annual gross turnover of at least N5 billion, are the first category required to complete the transition before other taxpayer groups.
The electronic invoicing programme has been introduced in phases based on business size. The system officially started for large taxpayers on 1 August, 2025, after pilot deployments and consultations that began in January 2025.
The implementation timetable was later extended to November 2025 to allow companies more time to address technical and operational issues before full enforcement.
The 31 July, 2026 deadline now marks the end of that transition period. With compliance monitoring already under way, the NRS is preparing to enforce the rules among companies that fail to complete the process.
The agency said full participation is necessary for the electronic invoicing framework to function properly and to improve tax administration through standardised digital invoice reporting.
Businesses that are yet to complete the required steps now have only a short period to finish registration, system integration, testing and invoice transmission before enforcement begins.
For More News Details, Visit New Daily Prime.
