The guidelines are targeted at taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax practitioners and other individuals and businesses engaged in virtual asset activities. According to the NRS, the guidelines establish an administrative framework for the taxation of virtual assets in line with the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025. The guidelines set out the applicable tax obligations for participants in the virtual asset ecosystem, covering areas such as registration, reporting, record-keeping, valuation and the tax treatment of virtual asset transactions. The Guidelines provide a clear administrative framework for the taxation of virtual assets in Nigeria,” the NRS said. The NRS maintained that the guidelines are intended to provide consistency in tax administration while encouraging compliance across the virtual asset ecosystem.