The International Monetary Fund wants the Federal Inland Revenue Service (FIRS) to enforce Nigeria’s 10 percent tax on gains from the sale of digital assets, including cryptocurrencies.
The tax, introduced under the Finance Act of 2023, applies to any profit from disposing of crypto assets. But so far, the FIRS has not begun collecting it, largely because it lacks a system to track crypto ownership and usage, and relies on self-reporting, which the IMF describes as ineff
…Wants revenue agency to enforce 10% tax
The International Monetary Fund wants the Federal Inland Revenue Service (FIRS) to enforce Nigeria’s 10 percent tax on gains from the sale of digital assets, including cryptocurrencies.
The tax, introduced under the Finance Act of 2023, applies to any profit from disposing of crypto assets. But so far, the FIRS has not begun collecting it, largely because it lacks a system to track crypto ownership and usage, and relies on self-reporting, which the IMF describes as ineff