Coalition seeks review of NRS new crypto tax guidelines

The Digital Assets Coalition (DAC) has expressed concerns that Nigeria’s new virtual asset tax guidelines could encourage cryptocurrency activities to move offshore and slow youth participation in the sector.
Its Spokesperson, Mr Obinna Iwuno, stated this at a media conference organised by the coalition on Thursday in Lagos.
Iwuno said that although the coalition supported the taxation of digital assets, some provisions of the framework appeared to target the movement of funds rather than actual profits.
He said the group backed the taxation of gains from virtual assets, customer verification and stricter reporting requirements for operators.
Iwuno, however, noted that certain asp...