The Federal Government has issued guidelines for the implementation of the Tax Acts 2025, setting out the transition process from repealed tax laws to Nigeria’s new tax framework, which took effect from January 1, 2026. This is according to a statement on Thursday by Efe Ovuakporie, director of press relations at the Federal Ministry of Finance.
The guidelines provide direction to taxpayers, tax practitioners, revenue authorities, and other stakeholders on how to address issues arising during the transition period, with 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 applying from their respective commencement dates.
The ministry said tax liabilities, assessments, audits, investigations, disputes, and enforcement actions relating to periods before January 1, 2026, will be treated under the repealed tax laws, while tax returns for accounting periods ending before that date will be filed under the previous tax laws, with returns falling due from January 1 onward administered under the new tax framework.
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. The ministry stated that existing tax incentives and exemptions granted under the repealed laws will remain valid until their expiration dates, while new applications and pending requests will be considered under the provisions of the Tax Acts 2025.
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