Nigeria Cracks Down on Crypto Tax Evasion with New Guidelines

Nigeria's tax authority has introduced guidelines for taxing cryptocurrency and other digital assets. The Nigeria Revenue Service (NRS) announced the framework on Monday, which sets out how virtual asset transactions will be treated under the country's new tax regime.

The guidelines require registration, reporting, and record-keeping from taxpayers, virtual asset service providers, peer-to-peer marketplace operators, tax practitioners, and other industry participants. Individual gains from virtual asset transactions are subject to personal income tax rates of up to 25%, while companies face the standard 30% corporate income tax rate on taxable profits.

The framework also establishes valuation principles and defines the tax treatment of virtual asset transactions under the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025. The guidelines aim to strengthen compliance as the federal government seeks to expand its revenue base through the digital economy.