The Nigerian Revenue Service has issued formal guidelines addressing the taxation of virtual assets. The move is expected to bring greater clarity to the treatment of digital currencies, tokens, and other blockchain-based assets within Nigeria's tax framework.
Taxpayers and businesses engaged in virtual asset transactions are expected to familiarise themselves with the new provisions to ensure compliance. The guidelines cover the applicable tax obligations arising from the acquisition, disposal, and trading of virtual assets.
Further details of the guidelines were not available at press time.