The regulations introduced a value added tax (VAT) exemption to cryptocurrency and other virtual assets transactions. Effective from 15 November 2024, transfers and conversions of virtual assets will no longer…
The Federal Inland Revenue Service (FIRS), the Federal tax authority in Nigeria, wants tax revenue from crypto services in Nigeria. To achieve this goal, the FIRS plans to work with…
Following the recent announcement by KuCoin, a leading cryptocurrency exchange, to start charging its Nigerian users 7.5% value-added tax (VAT) on the transaction fees for all crypto transactions on its…