The Federal Government has issued guidelines for the transition from repealed tax laws to the new Tax Acts 2025.
The Federal Ministry of Finance made this known in a statement on Thursday.
It said the guidelines provide direction to taxpayers, tax practitioners, revenue agencies and other stakeholders on implementing the new tax framework.
It also clarifies how taxpayers and revenue authorities should handle obligations before and after January 1, 2026.
It explained that tax liabilities, assessments, audits, investigations, disputes and enforcement actions relating to periods before January 1, 2026, will continue to be treated under the repealed tax laws.
Tax returns for accounting periods ending before that date will also be filed under the old laws, while returns for accounting periods ending from January 1, 2026, onward will be administered under the new framework.
The guidelines cover the implementation of the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act and the Joint Revenue Board (Establishment) Act.
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The guidelines also provide direction 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.
According to the ministry, existing tax incentives and exemptions granted under the repealed laws would remain valid until their expiration dates.
However, new applications and pending requests will be considered under the provisions of the Tax Acts 2025.
Speaking on the release of the guidelines, the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the document was designed to ensure a smooth transition and prevent the retrospective application of the new laws.
He said the guidelines provide a framework for managing transitional issues while clarifying how existing obligations, ongoing matters and future transactions will be handled under the new tax regime.
According to the minister, the guidelines are built on three principles: “clarity, fairness and administrative certainty.”
The ministry maintained that the document is intended to promote uniform implementation of the new tax laws and support effective administration across the Nigeria Revenue Service, state tax authorities, the FCT Internal Revenue Service, local government revenue committees, tax practitioners and taxpayers.
It reaffirmed the government’s commitment to building a transparent, efficient and modern tax system that supports economic growth, strengthens revenue administration, encourages voluntary compliance and improves the country’s investment climate.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X