The Nigeria Revenue Service (NRS), in collaboration with the Joint Revenue Board (JRB), has released new guidelines establishing Nigeria’s administrative framework for the taxation of virtual assets.
The new guidelines apply to taxpayers, Virtual Asset Service Providers (VASPs), Peer-to-Peer (P2P) marketplace operators, tax practitioners and all other persons engaged in virtual asset activities.
According to the public notice, the framework sets out the applicable tax obligations relating to virtual assets, including registration requirements, reporting obligations, record-keeping standards, valuation principles and the tax treatment of virtual asset transactions.
The NRS said the guidelines are issued in line with the provisions of the Nigeria Tax Act, 2025 and the Nigeria Tax Administration Act, 2025, providing an administrative structure for the taxation of digital assets in Nigeria.
The revenue authority stated that the initiative is intended to improve clarity, certainty and consistency in the administration of tax laws as they relate to the rapidly evolving virtual asset market.
It added that the framework is designed to encourage voluntary tax compliance, promote transparency and support the development of a fair and efficient tax system for digital asset transactions.
The NRS and JRB urged all affected taxpayers and stakeholders to familiarise themselves with the provisions of the guidelines and ensure full compliance with their applicable tax obligations.
The newly released Guidelines on the Taxation of Virtual Assets are available for download on the official websites of the Nigeria Revenue Service and the Joint Revenue Board.
