NRS Issues New Tax guidelines For Cryptocurrency, Virtual Assets

The Nigeria Revenue Service (NRS) has unveiled new guidelines outlining how virtual assets, including cryptocurrencies, will be taxed under the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
The framework is targeted at taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax professionals and individuals involved in virtual asset transactions, as the federal government seeks to strengthen tax compliance and broaden revenue collection from the expanding digital economy.
In a public notice released on Monday, the NRS announced the formal issuance of the Guidelines on the Taxation of Virtual Assets, describing the document a...