The Nigeria Revenue Service (NRS) has issued guidelines on the taxation of digital assets such as Bitcoin and Ether, stablecoins, Non-Fungible Tokens (NFTs) and other blockchain-based virtual assets recognised under Nigerian law.
This was disclosed in a statement by NRS, stating that the newly issued guidelines apply to taxpayers, tax practitioners, virtual asset service providers (VASPs), peer-to-peer (P2P) marketplace operators and any individual or company involved in digital asset activities.
The statement reads, “The Guidelines provide a clear administrative framework for the taxation of virtual assets in Nigeria.
“They set out the applicable tax obligations, including registration, reporting and record-keeping obligations, valuation principles, and the tax treatment of virtual asset transactions in accordance with the provisions of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
“All affected taxpayers and stakeholders are encouraged to familiarise themselves with the provisions of the Guidelines and ensure full compliance with the applicable tax obligations.
“The Guidelines on the Taxation of Virtual Assets are available for download on the Nigeria Revenue Service website at www.nrs.gov.ng.”
