Nigeria to Introduce New Tax Laws for Cryptocurrency by September 2024
The Nigerian government is reportedly preparing to introduce a new set of tax laws, including specific regulations for the country’s growing cryptocurrency industry, by September 2024. This initiative is reportedly part of a broader plan to streamline revenue collection and modernize Nigeria’s tax framework.
The forthcoming bill aims to simplify existing tax laws while addressing the complexities of the digital economy, including cryptocurrency transactions. This move is expected to provide clearer guidelines for both businesses and individuals engaged in crypto-related activities, marking a significant step in Nigeria’s efforts to regulate and benefit from the digital economy.
