Nigeria unveils tax guidelines for virtual assets, P2P operators
Nigeria Revenue Service NRS
Abdullateef Fowewe
The Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB), has released official Guidelines on the Taxation of Virtual Assets, establishing a clear regulatory framework for the country’s digital asset ecosystem.
The new guidelines, issued under the Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025, target Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, individual traders, and tax practitioners.
According to the joint statement obtained on Monday from NRS, the framework “provides a clear administrative framework for the taxation of virtual assets in Nigeria,” detailing obligations for registration, reporting, record-keeping, valuation principles, and the specific tax treatment of virtual asset transactions.
The NRS and JRB described the move as part of their commitment to “providing clarity, certainty, and consistency in the administration of Nigeria’s tax laws as they relate to the rapidly evolving virtual asset ecosystem.”
The agencies added that the guidelines are “intended to promote voluntary compliance, enhance transparency, and support the development of a fair and efficient tax framework for digital asset transactions.”
All affected taxpayers and stakeholders have been urged to familiarise themselves with the provisions and ensure full compliance with the applicable tax obligations.
The full Guidelines on the Taxation of Virtual Assets are available for download on the NRS and JRB websites at www.nrs.gov.ng and www.jrb.gov.ng.
