The Nigeria Revenue Service (NRS) has issued comprehensive guidelines on the taxation of virtual assets, establishing a regulatory framework for cryptocurrency and other digital asset transactions under the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
The guidelines target taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax practitioners, and individuals involved in virtual asset transactions.
They form part of the federal government’s efforts to broaden the country’s tax base, improve compliance, and strengthen the oversight of the rapidly expanding digital economy.
In a released statement on Monday, the NRS described the document as a clear administrative framework for tax obligations relating to digital asset transactions in Nigeria.
According to the agency, the guidelines outline registration, reporting, and record-keeping requirements, valuation principles, and the tax treatment of virtual asset transactions in line with the provisions of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
“The Nigeria Revenue Service (NRS) wishes to inform taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax practitioners, and all persons engaged in virtual asset activities that it has issued the Guidelines on the Taxation of Virtual Assets,” the statement said.
It added that the guidelines provide a clear administrative framework for the taxation of virtual assets in Nigeria and set out applicable tax obligations designed to ensure consistency in the administration of tax laws.
The NRS said the initiative reflects its commitment to providing clarity, certainty, and transparency as digital assets become…
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