Nigeria's Tax Acts 2025 Transition Guidelines Released

On June 18, 2026, the Federal Government of Nigeria released the General Transition Guidelines for the Tax Acts 2025, aimed at facilitating the transition from the repealed tax framework to the new tax regime. The Guidelines address various issues such as accounting periods, transaction taxes, pending disputes, tax incentives, and record-keeping obligations.

A key feature is the fiscal cut-off, which states that the 2025 Acts will apply prospectively from January 1, 2026, meaning no tax, penalty, or obligation under the new Acts will apply to periods prior to this date. This provision protects taxpayers from retrospective application of the new laws.

Businesses must classify transactions and filings according to the commencement date to determine applicable laws. The Guidelines clarify that assessments or actions related to periods before the commencement date will be governed by the previous laws, ensuring that pre-commencement transactions are not subject to the new regime despite returns being filed afterward.