By Oluwakemi Kindness
The minister of Finamce and Coordinating Minister of the Economy, Taiwo Oyedele, says the Federal Government’s newly released guidelines for implementing the Tax Acts 2025 will ensure a smooth and fair transition to Nigeria’s new tax regime.
Oyedele said the guidelines provide a clear framework for handling issues that may arise as the country moves from the repealed tax laws to the new tax system, which takes effect on January 1, 2026.
According to him, the guidelines are built on three key principles, clarity, fairness and administrative certainty and will ensure that the new tax laws are not applied retrospectively.
He described the Tax Acts 2025 as a major milestone in Nigeria’s tax reform programme, noting that the document clearly explains how existing tax obligations, ongoing audits, disputes and future transactions will be treated during the transition period.
A statement on Thursday by Efe Ovuakporie, Head information in the ministry, quotes the minister as explaining that tax liabilities, assessments, audits, investigations and enforcement actions relating to periods before January 1, 2026, will continue to be governed by the repealed tax laws.
He also clarified that tax returns for accounting periods ending before the commencement date will be filed under the old tax regime, while returns due from January 1, 2026, onward will be administered under the new framework.
Oyedele further stated that tax incentives and exemptions already granted under the repealed laws will remain valid until they expire. However, authorities will process new applications and pending requests under the provisions of the Tax Acts 2025.
He said the guidelines are designed to ensure uniform implementation across tax authorities nationwide and support effective tax administration.
The minister reaffirmed the Federal Government’s commitment to creating a transparent, efficient and modern tax system that promotes economic growth, strengthens revenue collection, encourages voluntary compliance and improves Nigeria’s investment climate.
