The Nigeria Revenue Service (NRS) has issued new guidelines on the taxation of virtual assets, providing a framework for the handling of cryptocurrencies and other digital asset transactions in the country.
In a statement on Monday, the tax authority said the guidelines are targeted at taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other participants in the virtual asset ecosystem.
The introduction of the virtual assets guidelines came after President Bola Tinubu signed the Presidential Executive Order on Virtual Assets Coordination, 2026, to harmonise digital asset regulation and curb financial fraud on 17 July.
According to NRS, the guidelines establish a clear administrative framework for the taxation of virtual assets in Nigeria.
The agency said the document outlines tax obligations applicable to virtual asset transactions, including registration, reporting and record-keeping requirements, valuation principles, and the tax treatment of digital asset transactions.
It noted that the provisions are in line with the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
NRS said the issuance of the guidelines forms part of its efforts to provide greater clarity, certainty and consistency in the administration of Nigeria’s tax laws as the country’s virtual asset ecosystem continues to evolve.
According to the agency, the framework is designed to promote voluntary tax compliance, improve transparency, and support the development of a fair and efficient tax system for digital asset transactions.
The tax authority urged all affected taxpayers and stakeholders to study the guidelines and ensure full compliance with their tax obligations.
Penalties
Under the guidelines, VASPs and P2P marketplace operators…
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