Nigeria Sets Crypto Tax Rules for Digital Asset Platforms
The framework requires exchanges and P2P marketplaces to withhold 1% on taxable crypto disposals and report customer details to the revenue agency.
- On August 4, 2026, the Nigeria Revenue Service issued guidelines requiring cryptocurrency and peer-to-peer marketplaces to collect, report, and remit taxes, with some withheld amounts payable in digital tokens.
- President Bola Tinubu's executive order signed on July 17 established a Virtual Asset Council to harmonize digital asset regulation; the council developed these rules under the Nigeria Tax Act and Nigeria Tax Administration Act of 2025.
- A 10% withholding rate applies to staking, mining, airdrops, and decentralized finance, while companies face a 30% tax rate and token-to-fiat transfers incur a 1.5% stamp duty.
- Platforms must report customer details, including Tax Identification Numbers, to the NRS; stablecoin sales remain exempt from the 1% withholding tax on other virtual asset disposals.
- Income tax and stamp duty must be remitted in the transaction's originating token, whereas value-added tax must be paid in the currency used for payment.
30 Articles
30 Articles
Nigeria’s plan to tax crypto transactions could undermine adoption, industry says
By Isaac Anyaogu LAGOS, Aug 6 (Reuters) - Nigeria has introduced stamp duty on certain crypto transactions and withholding taxes that industry players say could undermine adoption of digital assets in one of the world's most active retail crypto mark...
Nigerian govt issues guidelines on taxation of cryptocurrency, virtual assets, imposes penalties
The NRS said the new framework is intended to provide certainty for taxpayers while improving compliance and ensuring that Nigeria's rapidly growing virtual asset ecosystem is brought within the country's tax net. The post Nigerian govt issues guidelines on taxation of cryptocurrency, virtual assets, imposes penalties appeared first on Premium Times Nigeria.
(EXPLAINER) New crypto tax: Who pays, how much, what's exempt, penalties
Understand Nigeria’s new crypto tax guidelines for 2025. Learn who pays, how much tax applies to virtual assets, what’s exempt, and potential penalties. Read More: https://punchng.com/explainer-new-crypto-tax-who-pays-how-much-whats-exempt-penalties/
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
