FG reveals when New Tax Laws will take effect
Executive Chairman of the National Revenue Service (formerly Federal Inland Revenue Service), Zacch Adedeji, announced that the newly signed tax reform bills will take effect on January 1, 2026.
He said this would give the administration six months for planning, education, and alignment with the fiscal calendar.
Addressing State House Correspondents on Thursday, he explained, “Based on best practices globally, because when you have this kind of change, it takes time for all the stakeholders, participant operators, and even the regulator to change the system.
“So with the magnanimity of the National Assembly, Mr. President, the effective date will be January 1, 2026, by the special grace of Almighty God.”
Adedeji stressed the importance of launching the reforms at the start of a new calendar year, saying, “When you have this kind of change, it’s not what you do mid-year. Because if the application of the law is better, you start from the beginning of the year.
“So effective dates, by God’s grace, will be first of January 2026,” he added.
This timeline, Adedeji explained, allows for adequate sensitisation, planning, and harmonisation with government budgeting frameworks.
