- Seeks smooth transition for taxpayers, practitioners, revenue authorities
BY COBHAM NSA – With eyes on a seamless and transparent shift to the new tax system in the country, the Federal Government has unveiled the General Guidelines for the effective implementation of the Tax Acts 2025.
The blueprint, seeking to completely rewrite the rule book on national taxation, will also define a bold new era of fiscal transformation that empowers taxpayers, practitioners, and revenue authorities to confidently navigate the transition between the old and new tax regimes without retroactively disrupting their financial plans.
In setting out the process for transition from the repealed tax laws to the new tax framework effective from January 1, 2026, the guidelines issued by the Federal Ministry of Finance on the Tax Acts 2025, comprising the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.
Particularly, under the Nigeria Tax Act, 2025, which came into effect on January 1, 2026, tax liabilities, assessments, audits, investigations, disputes and enforcement actions relating to periods before that date will be treated under the repealed tax laws.
A statement by the Finance Ministry further explained that tax returns relating to accounting periods ending before January 1, 2026, will be filed under the previous tax laws, while returns falling due from January 1, 2026, onward will be administered under the new tax framework.
It stated that the document also covers the treatment of income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping obligations and transactions that span both the old and new tax regimes.
However, while existing tax incentives and exemptions granted under the repealed laws will remain in place until their expiration date, new applications and pending requests will be considered under the provisions of the Tax Acts 2025.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, who addressed issues around the General Guidelines, said the document provides a framework for managing transitional issues while ensuring that the new laws are not applied retrospectively.
He described the Tax Acts 2025 as a significant milestone in Nigeria’s tax reform programme, noting that the Guidelines set out how existing obligations, ongoing matters and future transactions will be treated under the new regime.
According to him, the Guidelines are anchored on three key principles – clarity, fairness and administrative certainty, adding that they 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 Ministry’s statement signed by Efe Ovuakporie, Head information and Public Relations Unit, confirmed that the current administration is committed to building a robust and dynamic system designed to turbocharge economic growth, champion voluntary compliance, improve investment climate and transform the country into a premier global investment hub.
