Nigeria sets crypto tax collection rules for digital asset platforms
Nigeria’s revenue agency has issued crypto tax rules requiring exchanges and P2P marketplaces to collect, report, withhold and remit taxes on virtual asset transactions. The guidelines say withholding tax and stamp duty must be remitted in the original token of the transaction, while VAT is paid in the currency used for the purchase. Platforms must withhold 1% on taxable disposals of crypto assets, security tokens and some NFTs, 10% on staking, mining, airdrops and DeFi, and 1.5% stamp duty on token-to-fiat and fiat-to-token transfers. Stablecoin sales are exempt from the 1% withholding tax. The withheld amounts count as advance payments against final income tax. The rules follow Nigeria’s 2025 tax overhaul, which treats digital assets as chargeable assets and requires virtual asset providers to report customer and transaction data.
