Nigeria’s new Virtual Asset Taxation Framework establishes a clearer tax regime for virtual assets and related transactions. The Guidelines provide rules on taxable events, valuation, reporting, record-keeping, and compliance obligations for taxpayers and Virtual Asset Service Providers (VASPs), while raising important questions around implementation and enforcement.
In this article, we examine the key provisions of the Guidelines and what they mean for taxpayers, VASPs, and other participants in Nigeria’s virtual asset ecosystem. Click here to continue reading.