…issues guidelines for transition to Tax Acts 2025
The Federal Government has issued the general guidelines for the implementation of the Tax Acts 2025, explicitly directing that all tax returns for accounting periods ending before January 1, 2026, must be filed under the old, repealed tax laws.
The transitional framework, which was made public on Thursday in a statement by Efe Ovuakporie, the Director of Press Relations at the Federal Ministry of Finance, clarifies that only tax returns for accounting periods ending from January 1, 2026, onward will be administered under the new tax regime.
According to the Ministry, the newly released document provides clear direction to taxpayers, practitioners, and revenue authorities to ensure a seamless shift between the two fiscal regimes.
Under the transition protocols, all tax liabilities, assessments, audits, investigations, disputes, and enforcement actions tied to periods preceding January 1, 2026, will remain subject to the old legal frameworks.
The guidelines also address transactions spanning both the old and new tax regimes, outlining specific treatments for income taxes, transaction taxes, development levies, record-keeping obligations, and tax incentives.
The Ministry stated that existing tax incentives and exemptions granted under the repealed laws will remain valid until their expiration dates, while pending or fresh requests will be processed under the provisions of the Tax Acts 2025.
Commenting on the guidelines, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, explained that the document provides a structured framework to manage transitional challenges without applying the new tax lawsretrospectively.
He described the Tax Acts 2025 as a major milestone in Nigeria’s ongoing tax reform programme.
“The guidelines are anchored on three key principles – clarity, fairness, and administrative certainty,” Oyedele stated.
The Minister added that the policy document is designed to promote uniform implementation of the new laws and support effective tax administration across the Nigeria Revenue Service (NRS), State Internal Revenue Services, the FCT Internal Revenue Service, and Local Government Revenue Committees nationwide.
The Federal Government reiterated its broader commitment to establishing a transparent, efficient, and modern tax ecosystem capable of driving economic growth, encouraging voluntary compliance, and enhancing Nigeria’s investment climate.