NECA commends FG on tax implementation transition

The Nigeria Employers’ Consultative Association (NECA) has praised the Federal Government for releasing the General Guidelines for the Transition and Implementation of the Tax Acts 2025. This move is seen as a milestone that reinforces confidence in the ongoing tax reform agenda.

The guidelines offer crucial clarity on the implementation of the new tax framework, specifically affirming that the Tax Acts 2025 will not be applied retroactively to accounting periods prior to January 1, 2026.

Adewale-Smatt Oyerinde, the Director-General of NECA, highlighted that the government’s clarification on the transition process eliminates the uncertainty that could have arisen from the retrospective application of tax provisions to completed accounting periods.

READ ALSO: How truckers circumvent port security through plate number duplication —TTP

Oyerinde stated that by providing clear guidance on how previous and current tax obligations should be handled, the government has bolstered confidence in the reform process. This also demonstrates a commitment to engaging stakeholders, promoting compliance, and ensuring economic stability.

“The issuance of the transition guidelines shows that constructive engagement between the government and the private sector can yield outcomes that enhance investor confidence, promote regulatory certainty, and foster economic growth.

“By confirming that the Tax Acts 2025 will not be applied retroactively, the Federal Government has sent a strong signal that fairness, predictability, and adherence to the rule of law remain essential to Nigeria’s economic reform agenda,” he said.