Nigeria charges Binance with tax evasion

Nigeria’s taxation authority has lodged allegations of tax evasion against the cryptocurrency platform Binance, as per a Reuters’ report citing released statement on Monday.

Filed by the Federal Inland Revenue Service (FIRS) in Abuja, the case alleges four instances of tax evasion against Binance.

Binance has not yet provided a response to these allegations.

The charges encompass failure to pay value-added tax (VAT), corporate income tax, failure to submit tax returns, and alleged involvement in facilitating customer tax evasion via its platform, according to FIRS statements.