- Nigeria’s Revenue Service says VAT stays at 7.5% for taxable services offered by crypto exchanges and VASPs, but not on the digital assets themselves.
- Platforms and exchanges must collect, deduct, and remit the VAT.
- They also need to keep detailed transaction records or face serious compliance penalties.
Source: premiumtimesng.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Nigeria"
- Nigeria Sets Six-Week Deadline for 2026 VAT Modification Order
- Nigeria Consults on Draft VAT Modification Order 2026
- Nigeria Tribunal Confirms VAT on Imported IT Services Recharged at Cost but Rejects 150% Penalty
- Nigeria Tax Act 2025 Expands VAT Recovery on Services and Capital Assets
- Nigeria Begins E-Invoicing Compliance Monitoring for Large Taxpayers
