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 crypto 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 established a Virtual Asset Council that 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 token-to-fiat transfers are subject to a 1.5% stamp duty and companies face a 30% tax rate.
- Platforms must report customer details, including Tax Identification Numbers, while stablecoin sales are exempt from the 1% withholding tax for taxable 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.
28 Articles
28 Articles
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/
Since 2026, crypto exchanges have to comply with new regulations. What the tax office will know about owners of cryptocurrencies and where anonymous transactions are still possible.
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