Nigeria has achieved a breakthrough in digital trade as its Tax Identification Number (Tax-ID) receives international recognition and the Federal Inland Revenue Service (FIRS) is confirmed as the country’s official Peppol Authority – www.naijnaira.com reports.
The move, announced with the backing of the Standards Organisation of Nigeria (SON), places Nigeria’s Tax-ID under the ISO/IEC 6523 global coding system, according to reports.
This development allows both individuals and companies in Nigeria to be identifiable in cross-border trade, reducing barriers and creating smoother access to global markets.
Peppol is a global network designed to make the exchange of electronic documents fast, secure, and standardized across borders.
By integrating with this system, Nigerian businesses will benefit from lower administrative costs, quicker transactions, and stronger global competitiveness.
“This milestone simplifies compliance for taxpayers, enables smoother cross-border transactions, and strengthens confidence in Nigeria as a global trade and investment hub,” FIRS said.
The new framework connects individual Tax-IDs generated through the National Identification Number (NIN) and company Tax-IDs from the Corporate Affairs Commission (CAC).
This alignment reduces duplication and errors while easing compliance obligations across federal and state levels.
To strengthen the initiative, FIRS has also introduced the Merchant Buyer Solution (MBS), an e-invoicing platform that will become mandatory for large businesses by November 1, 2025.
Medium and small businesses will be phased into the system afterward, with the agency urging companies to validate Tax-IDs and update accounting tools early.
FIRS stated, “The launch of MBS is a significant step in simplifying tax administration, closing compliance gaps, and positioning Nigeria to meet global standards in taxation and cross-border trade.”
Article updated 20 minutes ago. Content is written and modified by multiple authors.
