FG Unveils Transition Guidelines for New Tax Regime

FG Unveils Transition Guidelines for New Tax Regime

The Federal Government has released comprehensive transition guidelines for the implementation of the Tax Acts 2025, providing clarity on the migration from the old tax regime to the new framework that came into effect on January 1, 2026.

The development was disclosed in a statement issued by the Head of Information and Public Relations Unit of the Federal Ministry of Finance, Efe Ovuakporie.

According to the ministry, the guidelines outline how taxpayers, tax authorities and other stakeholders should manage tax liabilities, assessments, audits, investigations, disputes and enforcement actions arising before and after the commencement of the new laws.

“The Federal Government has issued the General Guidelines for the implementation of the Tax Acts 2025, setting out the process for transition from the repealed tax laws to the new tax framework effective from January 1, 2026,” the statement said.

The ministry explained that the new tax framework comprises the Nigeria Revenue Service (Establishment) Act, Nigeria Tax Act, Nigeria Tax Administration Act and the Joint Revenue Board (Establishment) Act, all of which will take effect according to their respective commencement dates.

Under the guidelines, tax matters relating to periods before January 1, 2026, including liabilities, audits, investigations and disputes, will continue to be governed by the repealed tax laws. Similarly, tax returns for accounting periods ending before the commencement date will be filed under the old regime, while returns due from January 1, 2026, onward will be administered under the new framework.

The document also addresses issues relating to income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping requirements and transactions spanning both tax regimes.

The ministry noted that tax incentives and exemptions granted under the repealed laws would remain valid until their expiration dates. However, fresh applications and pending requests for incentives will be assessed under the provisions of the Tax Acts 2025.

Speaking on the guidelines, Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the framework was designed to provide certainty and prevent the retrospective application of the new laws.

He described the Tax Acts 2025 as a major milestone in Nigeria’s tax reform agenda, noting that the guidelines provide clear direction on the treatment of existing obligations, ongoing tax matters and future transactions.

According to the minister, the framework is built on the principles of clarity, fairness and administrative certainty.

The ministry added that the guidelines are intended to ensure uniform implementation across the Nigeria Revenue Service, state internal revenue services, the Federal Capital Territory Internal Revenue Service, local government revenue committees, tax practitioners and taxpayers nationwide.

It reaffirmed the government’s commitment to building a transparent, efficient and modern tax system capable of enhancing revenue administration, encouraging voluntary compliance, improving the investment climate and supporting economic growth.

The release of the guidelines marks another step in the implementation of the Tax Acts 2025, which are expected to significantly reshape tax administration and compliance procedures across Nigeria.