NRS, JRB Release Guidelines On Taxation Of Virtual Assets

The Nigeria Revenue Service (NRS) and the Joint Revenue Board (JRB) have released new guidelines outlining the taxation of virtual assets in Nigeria.

The guidelines provide an administrative framework for the taxation of virtual assets and set out applicable tax obligations for taxpayers and businesses operating within the sector.

According to a public notice issued by the two agencies, the guidelines cover registration, reporting and record-keeping requirements, valuation principles and the tax treatment of virtual asset transactions.

The framework applies to taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other persons engaged in virtual asset-related activities.

The agencies said the guidelines were developed in line with the provisions of the Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025.

They said the release was part of efforts to provide clarity, certainty and consistency in the administration of Nigeria’s tax laws as the country’s virtual asset ecosystem evolves.

The NRS and JRB said the guidelines are also intended to promote voluntary compliance, enhance transparency and support the development of a fair and efficient tax framework for digital asset transactions.

All affected taxpayers and stakeholders were urged to familiarise themselves with the guidelines and ensure compliance with applicable tax obligations.

The guidelines are available through the official websites of the Nigeria Revenue Service and Joint Revenue Board.