The Federal Government has issued the General Guidelines for the implementation of the Tax Acts 2025, detailing how the transition from the repealed tax laws to the new tax framework will be managed ahead of its commencement on January 1, 2026.
A key provision in the guidelines states that tax returns relating to accounting periods ending before January 1, 2026, will continue to be processed under the repealed tax laws, while returns due from that date onward will fall under the new tax regime.
Released in Abuja, the guidelines are designed to assist taxpayers, tax professionals, revenue authorities and other stakeholders in navigating issues arising from the shift to the new tax framework.
According to the document, 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 — will take effect from their respective commencement dates, with the Nigeria Tax Act specifically becoming operational on January 1, 2026.
The guidelines further explain that tax liabilities, assessments, audits, investigations, disputes and enforcement actions connected to periods before the commencement date will continue to be handled under the repealed tax laws.
They also provide clarification on the treatment of income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping requirements and transactions that span both the old and new tax systems.
The document notes that existing tax incentives and exemptions granted under the repealed laws will remain valid until their expiration. However, fresh applications and pending requests will be assessed in line with the provisions of the Tax Acts 2025.
Speaking on the release of the guidelines, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the document provides a framework for addressing transitional matters while ensuring that the new tax laws are not applied retrospectively.
He described the enactment of the Tax Acts 2025 as a major milestone in Nigeria’s tax reform agenda, noting that the guidelines clearly explain how existing obligations, ongoing matters and future transactions will be treated under the new framework.
According to him, the guidelines are built on three core principles: clarity, fairness and administrative certainty.
He added that the document is intended to ensure 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 also reaffirmed its commitment to developing a transparent, efficient and modern tax system that promotes economic growth, strengthens revenue administration, encourages voluntary compliance and enhances Nigeria’s investment environment.