Nigeria Issues First Guidelines on Taxing Crypto and Virtual Assets
The Nigeria Revenue Service has published its first framework for taxing cryptocurrencies and virtual asset service providers, setting compliance rules for users, exchanges and P2P platforms.
AfroEuropa Newsroom
AfroEuropa desk
Nigeria has published its first comprehensive framework for taxing virtual assets, clarifying how cryptocurrency transactions and virtual asset service providers (VASPs) will be treated under the country's tax system. The guidance was released by the Nigeria Revenue Service (NRS) through a public notice, according to TechCabal and BitKE.
The rules apply to a broad range of participants, including crypto users, exchanges, brokers, custodians, peer-to-peer (P2P) marketplace operators and other digital-asset businesses. The guidelines classify virtual assets broadly, covering cryptocurrencies, stablecoins, security tokens, utility tokens and non-fungible tokens (NFTs), per BitKE.
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