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The Nigeria Revenue Service (NRS) operates on a ‘proof-based’ system in 2026. If you cannot produce a digital trail for an expense, it will be disallowed during an audit, increasing your taxable profit and your tax bill. Under the new 2026 rules, ‘Lost my receipt’ is no longer a valid defense.
The NRS Record-Keeping Standards
- Digital Ledger: Your primary books must be kept in a format that can be exported to Excel or PDF for TaxPro Max uploads.
- The 6-Year Rule: You are legally required to keep all invoices, bank statements, and WHT credit notes for at least six years.
- E-Invoicing: Ensure every sale is backed by an electronic invoice showing the customer’s TIN (where applicable).
Using the right Accounting Software is the easiest way to automate this. For more on how these records protect you, see our Audit Prep Guide. For official standards, visit the NRS website or ICAN Nigeria.
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