Nigeria Revenue Service (NRS) has issued new guidelines imposing a 30 per cent corporate income tax on profits earned by medium and large companies from cryptocurrency and other virtual asset activities. The guidelines, published in a public notice on Monday, apply to companies, individual taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer marketplace operators and other participants in Nigeria’s digital asset ecosystem. The directive follows President Bola Tinubu’s Presidential Executive Order on Virtual Assets Coordination, 2026, which established a coordinated framework for the regulation of cryptocurrencies, stablecoins and tokenised assets. Similarly, transfers of virtual assets between wallets owned and controlled by the same individual will not attract income tax, provided there is no change in beneficial ownership. As part of the compliance framework, companies operating in the virtual asset sector will be required to meet registration, reporting, withholding tax, value-added tax (VAT) and record-keeping obligations.