eTranzact, a Nigerian fintech company, on Tuesday reiterated its commitment to facilitating same-day onboarding and ensuring easy, seamless e-invoicing uploads.
Mr Abubakar Achimugu, Executive Director of etranzact, gave the promise at a Nigeria Revenue Service (NRS) E-invoicing Compliance Workshop and Stakeholders’ Engagement, organised by the etranzact, in Abuja.
Achimugu harped on the need for tax payers to comply easily using various solutions provided by the organisation.
themomentng reports that e-invoice is a digital representation of a transaction between a supplier and a buyer, which contains essential transaction details.
Details such as supplier and buyer information, item descriptions, quantities, prices, tax and total amounts.
The executive director said that to support the growth of the digital economy, the NRS intended to implement “e-invoices” in stages to enhance the efficiency of Nigeria’s tax administration.
“We at e-tranzact have had this collaboration with the NRS for so many years.
“We are the major platform that have been doing all the revenue collection in the country especially on the VAT funds, which has been very exceptional, seamless, secured and safe.
“In respect to E-invoicing, we are moving away from the manual process to digitalisation. This is very seamless, it’s user friendly, regardless of your literacy level.
“This (E-invoicing) will also protect the average Nigerian of multiple taxation, such that as you are inputing and processing you are getting a notification to see what exactly you have paid for and documenting that process as well,” he said.
Achimugu said that the eTranzact offered round the clock supply and same day onboarding to facilitate effortless uploads of e-invoice to the NRS portal.
On the issues of infrastructural challenges in implementing E-invoicing, Mohammed Bawa, Project Manager, E-invoicing of the NRS said project has been divided into phases to ease implementation.
“From the beginning of the project, we knew that there will be some challenges.
“The implementation in three different phases. The large tax payers, the medium and the emerging.
“We have a three year plan. Within the last one year, we have been speaking directly to only large tax payers, organising so many engagement for them to ease the adoption process because we know the transition is not that easy.
“Our focus for now is how to support tax payers to see how easily they can comply and that is why we have accredited so many service providers that will be there for the tax payers when they have challenges.
“We have been encouraging tax payers to always leverage on the services of these service providers like eTranzact.
“This is because they have undergone accreditation, process, and have demonstrated their solutions to us and we have endorsed it.
“They (the service providers) are in the best position to support the implementation and that is the only way the adoption of E-invoicing can be made seamless and easy to tax payers,” he said.
Bawa also noted that the NRS was doing its part to also directly engage with tax payers.
“We are providing so many channels for tax payers to reach out.
“We are coming up with a simulation portal that will allow the tax payers to simulate the generation of the invoice even before the implementation process begins.
“We also have an engagement portal on our website, so anyone can schedule an engagement with us when they have concerns,” he added.
Bawa also said that the NRS would continue to sensitise Nigerians on the projects and its benefits to the nation.
