The Nigeria Revenue Service (NRS) has notified taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax practitioners, and other persons engaged in virtual asset activities, including cryptocurrencies and tokens that it has released the Guidelines on the Taxation of Virtual Assets.
In a statement signed by its management, the NRS noted that the Guidelines provide a clear administrative framework for the taxation of virtual assets in Nigeria.
The Service explained that the Guidelines set out the applicable tax obligations, including registration, reporting, and record-keeping requirements, 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.
“The issuance of these Guidelines is part of the Service’s commitment to providing clarity, certainty, and consistency in the administration of Nigeria’s tax laws as they relate to the rapidly evolving virtual asset ecosystem,” it said.
The NRS stressed that the Guidelines are intended to promote voluntary compliance, enhance transparency, and support the development of a fair and efficient tax framework for digital asset transactions.
It urged affected taxpayers and stakeholders to familiarise themselves with the provisions of the Guidelines and ensure full compliance with the applicable tax obligations.
The Service added that the Guidelines on the Taxation of Virtual Assets are available for download on its website at www.nrs.gov.ng.
