-
TaxNaija: AI Powered Tax Compliance Assistant for Nigeria’s New Era
Problem:
Nigeria’s 2025 Tax Reforms, effective January 2026, introduce mandatory e-invoicing and VAT fiscalization for all VAT-registered businesses, broader input VAT claims, stricter rules for non-residents and digital assets, and a push for real-time digital reporting, creating massive compliance headaches, high error risks, and penalties for millions of SMEs and larger firms amid low historical tax adherence.
Solution:
An affordable AI platform that automates tax calculations, generates compliant e-invoices, handles filings, and provides personalized advisory to make navigating the new Nigeria Tax Act effortless and error-free.
How It Works:
- Upload or integrate transactions (bank feeds, accounting software, or manual entry) for AI to auto calculate VAT, CIT, PAYE, CGT (including on crypto), and minimum tax under the 2025 rules.
- Generate and validate fiscalized e-invoices in real time, ready for FIRS submission via API integration.
- AI chatbot answers queries in plain English (e.g., “Am I eligible for broader input VAT?”), flags risks and suggests optimizations, such as incentives.
- Automated filing reminders, report generation, and direct submission to NRS portals.
- Compliance dashboard with alerts for non-resident obligations or digital service VAT.
Who It’s For:
Nigerian SMEs, startups, fintechs, e-commerce platforms, accountants, and foreign digital providers serving the Nigerian market.
Why It’s Cool:
With mandatory e-invoicing coming into effect in January 2026, this could save businesses millions in penalties and time while boosting government revenue through better compliance. It’s timely and impactful, and it democratizes expert tax advice in a country where most people can’t afford top-tier consultants.
Execution Hint:
Build as a web/mobile SaaS with integrations to popular tools such as QuickBooks and local banks; start with a freemium model for SMEs, obtain FIRS accreditation for e-invoicing, and partner with accounting firms to drive rapid adoption.
-
0 Replies
Sorry, there were no replies found.
Log in to reply.