GUIDANCE FROM JOINT REVENUE BOARD (JRB) ON THE NEW TAX LAWS
1 . Transactional Taxes (VAT, Stamp Duty, Withholding Tax)
* The provisions of the NTA and NAA shall apply to transactions occurring from 1st January 2026.
* Returns filed in January 2026 relating to transactions that occurred in December 2025 or earlier shall be assessed under the repealed tax laws.
•For further clarity, VAT on December 2025 transactions (filed i n January 2026) remains subject to the repealed Value Added Tax Act, while VAT on January 2026 transactions (filed b y February 2026) will be subject to the provisions of NTA and NTAA.
* All actions relating to VAT done under the Value Added Act on or before 31st December, 2025 are valid and saved for the purpose of filing income tax returns under the NTA and NTAA.
2 . Company Income Tax (CIT): Income tax returns due for filing in the 2026 year of assessment shall be assessed under the NTA and NTAA, regardless of the filing date.
3 . Capital Gains Tax
* Chargeable gains arising from the disposal of assets from 1st January to 31st December 2025 shall be assessed and filed under the Capital Gains Tax Act.
* Chargeable gains arising from the disposal of assets from 1st January 2026 are fully subject to the provisions of the NTA and NAA and must be included in the company’s tax computation as part of its annual income tax filing from 2027 year of assessment