Federal Government Releases Guidelines For Transition To New Tax Regime

The Federal Government has released fresh guidelines to support Nigeria’s transition to the new tax regime introduced under the Tax Acts 2025.

The framework, unveiled by the Ministry of Finance on Thursday, is intended to provide clarity for taxpayers, revenue agencies, tax consultants and other stakeholders as the country moves into the new tax system.

According to the government, the guidelines address key issues surrounding the implementation of the new laws, including existing tax obligations, ongoing audits, pending disputes, tax incentives and transactions that may span both the old and new tax regimes.

Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, said the guidelines were developed to ensure a smooth transition while reducing uncertainty for taxpayers and tax authorities.

“The Guidelines are anchored on three key principles: clarity, fairness and administrative certainty,” Oyedele stated.

He explained that all tax liabilities and obligations relating to periods before January 1, 2026, will continue to be governed by the previous tax laws.

According to the minister, assessments, audits, investigations, disputes and enforcement actions connected to periods before the commencement of the new regime will still be handled under the repealed legal framework.

He further noted that tax returns linked to accounting periods ending before January 2026 will be filed under the old laws, while returns due from January 1, 2026, onward will fall under the provisions of the new tax system.

Oyedele explained that the Tax Acts 2025 consist of four major laws introduced as part of the government’s tax reform agenda.

These include:

• Nigeria Revenue Service (Establishment) Act

• Nigeria Tax Act

• Nigeria Tax Administration Act

• Joint Revenue Board (Establishment) Act

The guidelines also provide assurances for businesses currently benefiting from existing tax incentives and exemptions.

According to the government, all tax incentives granted under the repealed laws will remain valid until their approved expiration dates.

The move is expected to provide stability for businesses and investors who secured approvals before the introduction of the new tax framework.

However, applications still under consideration, as well as new requests for tax incentives, will now be evaluated under the provisions of the Tax Acts 2025.

The document also outlines how income taxes, transaction taxes, development levies and record-keeping requirements will be treated during the transition period.

Officials said the framework is aimed at ensuring continuity, reducing compliance challenges and helping businesses adapt to the new tax structure without disrupting economic activities.

The release of the guidelines marks another step in Nigeria’s ongoing tax reform programme, which seeks to modernise tax administration, improve compliance and strengthen government revenue generation.