The Nigeria Revenue Service (NRS) issues new guidelines covering the taxation of virtual assets, including cryptocurrencies and other digital assets. In a public notice dated Monday, the NRS says the guidelines are issued to provide clarity on tax obligations for taxpayers and for Virtual Asset Service Providers (VASPs), peer-to-peer marketplace operators, tax practitioners, and individuals involved in virtual asset activities. The NRS links the guidance to the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025, describing it as part of the federal government’s broader effort to expand the tax base and improve compliance in the growing digital economy.
According to the notice, the guidelines set out requirements and administrative expectations that include registration, reporting, and record-keeping. They also cover valuation principles and explain the tax treatment of digital asset transactions. The NRS presents the move as intended to support transparency and consistency in tax administration, encourage voluntary compliance, and offer more certainty for businesses and investors. The guidelines are made available for download on the NRS official website.
