- The Nigeria Revenue Service (NRS) has issued new guidelines to tax virtual asset transactions.
- VASPs and P2P marketplace operators must account for and remit VAT to the NRS on time.
- Noncompliance carries a N10 million penalty for the first month and N1 million for each additional month until compliance.
Source: regfollower.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.
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