FG Releases Transition Guidelines for Tax Acts 2025

The Federal Government has released comprehensive transition guidelines for the implementation of the Tax Acts 2025, providing clarity for taxpayers and authorities on moving from the old tax regime to the new framework that took effect on January 1, 2026. The guidelines, issued by the Ministry of Finance on Thursday, are designed to ensure a smooth shift without creating uncertainty.

The document outlines how existing obligations, ongoing matters, and future transactions will be treated under the new laws. A key provision states that all tax liabilities, assessments, audits, investigations, disputes, and enforcement actions relating to periods before January 1, 2026, will continue to be handled under the repealed tax laws. Similarly, tax returns for accounting periods ending before that date must be filed under the previous regime, while returns due from January 1 onward will be administered under the new framework.

The Tax Acts 2025 consist of four major laws: the Nigeria Revenue Service Establishment Act, the Nigeria Tax Act, the Nigeria Tax Administration Act, and the Joint Revenue Board Establishment Act. The guidelines cover the treatment of income taxes, transaction...