Nigeria Revenue Service Releases Guidelines on Virtual Asset Taxation

The Nigeria Revenue Service (NRS) has released new Guidelines on the Taxation of Virtual Assets, establishing an administrative framework for the taxation of digital asset transactions in the country. In a public notice, the NRS said the guidelines are intended for taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners, and all individuals and entities engaged in virtual asset activities. According to the Service, the guidelines set out ap