On 31 July 2026, the Nigeria Revenue Service (NRS) issued its Guidelines on the Taxation of Virtual Assets (the Guidelines). The Guidelines represent the first comprehensive framework to set out at a granular and transaction-level, how virtual asset activities are to be taxed under Nigeria’s new tax laws.
The issuance of the Guidelines marks a significant milestone on how to integrate novel digital asset classes into established fiscal frameworks without stifling innovation or creating regulatory arbitrage considering the global proliferation of virtual assets and the decentralised finance ecosystem.
In this edition of our Tax Alert, we examine the key provisions of the Guidelines and consider their practical implications for taxpayers, investors, Virtual Asset Service Providers (“VASPs”) and other market participants.
We invite you to read the full publication and share your insights on the potential impact of the Guidelines on Nigeria’s evolving tax landscape.
