The Federal Government has released comprehensive guidelines for implementing the Tax Acts 2025, outlining how the country will transition from the repealed tax laws to the new tax regime scheduled to take effect on January 1, 2026.
One of the major provisions in the guidelines, unveiled on Thursday in Abuja, states that tax returns for accounting periods ending before January 1, 2026, will continue to be processed under the existing tax laws. However, tax returns due on or after January 1, 2026, will be handled under the new tax system.
The document is intended to guide taxpayers, tax professionals, revenue agencies, and other stakeholders in navigating issues that may arise during the shift from the old tax structure to the new framework.
According to the document, “Under the Guidelines, the Tax Acts 2025 comprising the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board (Establishment) Act apply from the respective commencement dates as enacted in each law.
“In particular, January 1, 2026 for the Nigeria Tax Act, 2025.
“Tax liabilities, assessments, audits, investigations, disputes and enforcement actions relating to periods before that date will be treated under the repealed tax laws.”
The guidelines also provide clarity on matters relating to income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping requirements, and transactions that cut across both the old and new tax systems.
Furthermore, the document states that tax incentives and exemptions already granted under the repealed laws will remain valid until their expiration dates. However, fresh applications and outstanding requests will be assessed in line with the provisions of the Tax Acts 2025.
Commenting on the release of the guidelines, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, said the framework was designed to address transitional issues while ensuring the new laws are not applied retroactively.
He described the Tax Acts 2025 as a major achievement in Nigeria’s ongoing tax reform efforts, noting that the guidelines clearly define how existing obligations, ongoing cases, and future transactions will be managed under the new tax regime.
According to the Minister, “The Guidelines are anchored on three key principles – clarity, fairness and administrative certainty.
“The Guidelines are intended to promote uniform implementation and support effective administration across the Nigeria Revenue Service, State Internal Revenue Services, the FCT Internal Revenue Service, Local Government Revenue Committees, tax practitioners and taxpayers nationwide.”
The Federal Government reiterated its commitment to establishing a transparent, efficient, and modern tax administration system that promotes economic development, enhances revenue collection, encourages voluntary compliance, and strengthens Nigeria’s attractiveness to investors.
