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Nigeria is making crypto companies collect taxes for the government
['Emmanuel Nwosu', 'Techcabal Daily', 'Age-Gating Social Media', 'Less Drama', 'More Supersport', 'Naira-Backed Stablecoin Cngn Launches On Celo Network To Ease Cross-Border Payments', 'Temitayo Jaiyeola', 'Phathisani Moyo', 'Lina Kacyem', 'Kenn Abuya']
TechCabal
Nigeria’s new virtual asset tax guidelines do more than tax crypto traders.
TechCabal Interactive Explainer The Digital Dollar Cost Breakdown See how Nigeria’s 1.5% token stamp duty and 7.5% service VAT alter your real exchange rate.
+ Under NRS rules, stablecoins themselves carry no VAT, but service fees and commercial usage do: 1.
VASP Service Fees (7.5% VAT Applies): Exchange fees, brokerage commissions, custody fees, and wallet management fees attract 7.5% VAT billed on top of the fee itself.
Exchange fees, brokerage commissions, custody fees, and wallet management fees attract 7.5% VAT billed on top of the fee itself.