FG releases new guidelines for Tax Acts 2025 implementation, effective January 1, 2026
By Aboki Forex —
The federal government has released general guidelines for implementing the Tax Acts 2025. The new tax system takes effect on January 1, 2026.
According to the guidelines released in Abuja on Thursday, June 18, returns for periods ending on or before December 31, 2025 will be handled under the old laws. Returns due on or after January 1, 2026 will follow the new regime.
Minister Taiwo Oyedele said the guidelines will make tax rules clear, fair, and easier to follow.
The document provides operational guidance to tax authorities, practitioners, and taxpayers. It covers returns submission, payment of tax liabilities, assessments, audits, and investigations.
The guidelines also clarify matters related to various taxes during the transition period. This includes the effective dates of the acts and their scope of application.
The Tax Acts 2025 consist of the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act 2025, the Nigeria Tax Administration Act 2025, and the Joint Revenue Board (Establishment) Act. Each act takes effect from its respective commencement date. The Nigeria Tax Act begins on January 1, 2026.
The guidelines state: 'Tax liabilities, assessments, audits, investigations, disputes and enforcement actions relating to periods before that date will be treated under the repealed tax laws.'
Existing tax incentives and exemptions granted under prior tax laws will remain valid for their full duration. However, new applications and pending applications will be assessed under the new laws.
The Tax Acts 2025 apply to income taxes, transaction taxes, development levies, tax incentives, and exemptions. They also cover record-keeping and transactions that cross both regimes.