Nigerian Govt releases guidelines for transition to new tax regime

The Federal Government has released guidelines to steer Nigeria’s transition to a new tax regime.

The guidelines, released on Thursday by the Ministry of Finance, are expected to guide taxpayers, revenue agencies, tax consultants and other stakeholders through the transition period.

The government said the framework addresses key issues surrounding the implementation of the new tax laws, particularly on matters involving existing tax obligations, ongoing audits, pending disputes, tax incentives and transactions that may overlap between both regimes.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, while speaking on the development, said the guidelines were designed to ensure a smooth transition without creating uncertainty for taxpayers or revenue authorities.

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

According to him, tax liabilities and obligations tied to periods before January 1, 2026, will continue to be governed by the old tax laws.

He said assessments, audits, investigations, disputes and enforcement actions relating to the period before the new regime takes effect, will still be handled under the repealed legal framework.

The minister added that tax returns linked to accounting periods ending before January 2026 will be filed under the current laws. However, all tax returns due from January 1, 2026, onward will fall under the new legal structure.

“The Tax Acts 2025 consist of four major laws introduced as part of Nigeria’s tax reform agenda. They include the Nigeria Revenue Service (Establishment) Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board (Establishment) Act,” he added.

According to the guidelines, all existing tax exemptions and incentives granted under repealed laws will remain valid until their expiration dates.

This is expected to provide stability and reduce concerns among businesses that secured approvals before the introduction of the new tax laws.

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

The guidelines further clarify the treatment of income taxes, transaction taxes, development levies and record-keeping requirements during the transition period.