By Ghazali Ibrahim
The Nigeria Revenue Service (NRS) has issued new guidelines governing the taxation of virtual assets in Nigeria, setting out tax, registration, reporting and record-keeping obligations for individuals and businesses operating in the sector.
The guidelines, announced by the Service on Saturday, are targeted at taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other stakeholders involved in virtual asset activities.
According to the NRS, the new framework provides guidance on the tax treatment of virtual asset transactions, including applicable registration and reporting requirements as well as principles for valuing virtual assets for tax purposes.
The Service said the guidelines were developed in line with the Nigeria Tax Act, 2025, and the Nigeria Tax Administration Act, 2025.
The NRS said the framework was necessary to provide greater clarity and consistency in the administration of tax laws as the country’s virtual asset ecosystem continues to evolve.
It added that the guidelines were designed to promote voluntary compliance and transparency while establishing a fair and efficient tax framework for digital asset transactions.
The revenue service urged individuals and organisations affected by the guidelines to familiarise themselves with the new requirements and ensure compliance with their applicable tax obligations.
The development marks a significant step in the government’s efforts to bring activities within Nigeria’s rapidly expanding virtual asset sector under a clearer tax administration framework.
The NRS said the full Guidelines on the Taxation of Virtual Assets are available on its official website for taxpayers and other stakeholders to access.
