Banking system pre-clearance on mandated import export electronic invoicing to fight fraud
From 1 February 2022, imports or exports of goods from Nigeria must include a pre-clearance of an electronic invoice. Invoices must be submitted to any Authorised Dealer Bank for certification on the Trade Monitoring System portal. prior to any processing of payment to non-resident suppliers.
E-validator and e-invoice replaces paper invoices
The aim is to prevent the under declaration of the value of imports to defraud the state of duties and import VAT.
The new rules were contained within guidelines – ‘Guidelines on the Introduction of E-Evaluator, E-invoicing for Import and Export in Nigeria’ issued by the Central Bank of Nigeria.
Nigeria’s Automated Tax Administration System (ATAS) system is now able to electronically connect and interrogate major taxpayers accounting systems.
Middle East & Africa e-invoicing
|Country||Date||Comments (click for details)|
|Egypt||Sep 2021||Pre-clearance model roll out 2021-22|
|Israel||Proposal||Pre-clearance to follow Chile model|
|Jordan||Proposal||Pre-clearance e-invoices and pre-filled VAT returns|
|Kenya||Aug 2021||TIMS e-invoice|
|Nigeria||Apr 2021||Automated Tax Administration System ATAS|
|Oman||Jan 2023||Potential e-invoicing implementation|
|Saudi Arabia||Dec 2021||Pre-clearance e-invoicing|
|Tanzania||2022||VFD pre-clearance e-invoicing|
|Uganda||Jan 2021||Pre-clearance e-invoice and fiscal cash registers|