The Federal Government has released new guidelines to manage Nigeria’s transition to a new tax regime. The framework, issued on Thursday by the Ministry of Finance, is aimed at guiding taxpayers, revenue agencies, tax consultants and other stakeholders during the transition period.
According to the government, the guidelines address key issues arising from the implementation of the new tax laws, including existing tax obligations, ongoing audits, pending disputes, tax incentives, and transactions that may overlap between the old and new systems.
The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the framework was designed to ensure a smooth transition without creating uncertainty for taxpayers or revenue authorities. He explained that the guidelines are anchored on three principles: clarity, fairness and administrative certainty.
Oyedele stated that tax liabilities and obligations relating to periods before January 1, 2026, will continue to be governed by the existing tax laws. He added that assessments, audits, investigations, disputes and enforcement actions tied to that period will also remain under the repealed legal framework, while tax returns linked to accounting periods ending before January 2026 will be filed under the current laws.
He further clarified that all tax returns due from January 1, 2026, onward will fall under the new legal structure. The minister also noted that the Tax Acts 2025 comprise four major laws introduced under Nigeria’s tax reform agenda, including the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board (Establishment) Act.
The guidelines also state that all existing tax exemptions and incentives granted under the old laws will remain valid until their expiration dates, while new applications and those still under review will now be assessed under the provisions of the Tax Acts 2025. It further clarifies the treatment of income taxes, transaction taxes, development levies and record-keeping requirements throughout the transition period.
Elijah Adeyemi
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