Nigeria Revenue Service (NRS) has released comprehensive guidelines outlining how virtual asset transactions will be taxed under Nigeria’s new tax regime, providing greater clarity for participants in the country’s growing digital asset industry.
Gatekeepers News reports that in a statement issued on Monday, the agency said the framework spells out tax obligations covering registration, reporting requirements, record-keeping and the valuation of virtual assets. It noted that the guidelines are applicable to taxpayers, virtual asset service providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other participants involved in virtual asset activities.
According to the NRS, the new guidelines are aimed at ensuring a consistent and transparent approach to administering tax laws within the rapidly expanding virtual asset ecosystem.
“The Guidelines provide a clear administrative framework for the taxation of virtual assets in Nigeria,” the statement reads.
“They set out the applicable tax obligations, including registration, reporting and record-keeping obligations, valuation principles, and the tax treatment of virtual asset transactions in accordance with the provisions of the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.”
The agency said the initiative is designed to encourage voluntary tax compliance while strengthening transparency and supporting a fair and efficient tax system for digital asset transactions.
“All affected taxpayers and stakeholders are encouraged to familiarise themselves with the provisions of the Guidelines and ensure full compliance with the applicable tax obligations,” the NRS said.
“The Guidelines on the Taxation of Virtual Assets are available for download on the Nigeria Revenue Service website at www.nrs.gov.ng.”
The release of the guidelines follows President Bola Tinubu’s signing of an executive order on July 17 establishing a coordinated regulatory framework for virtual assets.
