The Federal Government has issued comprehensive guidelines to facilitate the implementation of the Tax Acts 2025, detailing how taxpayers and revenue authorities should navigate the shift from the existing tax laws to the new tax structure set to commence on January 1, 2026.
One of the key provisions states that tax returns covering accounting periods ending before January 1, 2026, will continue to be processed under the old tax laws. Returns relating to periods from that date onward will fall under the provisions of the new tax regime.
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Released in Abuja on Thursday, the guidelines are designed to assist taxpayers, tax consultants, revenue agencies, and other stakeholders in addressing matters arising during the transition period.
According to the document, the Tax Acts 2025—which include the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board (Establishment) Act—will take effect according to the commencement dates specified in each law, with the Nigeria Tax Act becoming operational on January 1, 2026.
The guidelines also make it clear that tax obligations, assessments, audits, investigations, disputes, and enforcement proceedings linked to periods before the commencement date will continue to be governed by the repealed legislation.
In addition, the document provides guidance on the treatment of income taxes, transaction-based taxes, development levies, tax reliefs, exemptions, record-keeping requirements, and transactions that extend across both the old and new tax systems.
It further explains that tax incentives and exemptions previously granted under the repealed laws will remain effective until they expire. However, any new applications or pending requests will be reviewed in line with the provisions of the Tax Acts 2025.
Commenting on the release, Finance Minister and Coordinating Minister of the Economy, Taiwo Oyedele, said the guidelines establish a clear roadmap for resolving transition-related issues while ensuring the new legislation is not applied retroactively.
He described the introduction of the Tax Acts 2025 as a major achievement in Nigeria’s ongoing tax reform agenda, emphasizing that the guidelines clearly define how existing obligations, ongoing cases, and future transactions will be managed under the new framework.
“The guidelines are built on three core principles—clarity, fairness, and administrative certainty,” the minister stated.
He added that the framework is intended to encourage consistent implementation and effective administration across the Nigeria Revenue Service, State Internal Revenue Services, the FCT Internal Revenue Service, Local Government Revenue Committees, tax professionals, and taxpayers throughout the country.
The Federal Government reiterated its commitment to developing a transparent, efficient, and modern tax system capable of supporting economic expansion, improving revenue collection, promoting voluntary tax compliance, and enhancing Nigeria’s attractiveness to investors.
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