Federal Government issues guidelines for Tax Acts 2025 implementation
via Punch Nigeria2 min read
The Federal Government has released transition guidelines for the implementation of the Tax Acts 2025, which became effective on January 1, 2026. These guidelines clarify how taxpayers, tax authorities, and other stakeholders should manage obligations during the transition from the old tax regime to the new framework. According to a statement by Efe Ovuakporie, Head of Information and Public Relations Unit at the Federal Ministry of Finance, the document provides direction on tax liabilities, assessments, audits, investigations, disputes, and enforcement actions for periods before and after the new laws. Tax liabilities and related actions from before January 1, 2026, will be treated under the repealed laws, while returns due from that date onward will follow the new framework. The guidelines also cover income taxes, transaction taxes, development levies, tax incentives, exemptions, record-keeping, and transactions spanning both regimes. Existing tax incentives and exemptions remain valid until their expiration, but new applications will be considered under the Tax Acts 2025. Taiwo Oyedele, the Minister of Finance and Coordinating Minister of the Economy, stated that the document aims to provide clarity on transitional issues and prevent retrospective application of the new laws. He described the Tax Acts 2025 as a significant milestone in Nigeria’s tax reform, emphasizing clarity, fairness, and administrative certainty. The guidelines are intended to promote uniform implemen
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