Nigerian Govt releases guidelines for transition to new tax regime

The Federal Government has released guidelines to steer Nigeria’s modulation to a caller taxation regime.

The guidelines, released on Thursday by the Ministry of Finance, are expected to usher taxpayers, gross agencies, taxation consultants and different stakeholders done the modulation period.

The authorities said the model addresses cardinal issues surrounding the implementation of the caller taxation laws, peculiarly connected matters involving existing taxation obligations, ongoing audits, pending disputes, taxation incentives and transactions that whitethorn overlap betwixt some regimes.

The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, portion speaking connected the development, said the guidelines were designed to guarantee a creaseless modulation without creating uncertainty for taxpayers oregon gross authorities.

“The Guidelines are anchored connected 3 cardinal principles — clarity, fairness and administrative certainty,” Oyedele said.

According to him, taxation liabilities and obligations tied to periods earlier January 1, 2026, volition proceed to beryllium governed by the aged taxation laws.

He said assessments, audits, investigations, disputes and...