Voice Air Media, News Update
Nigeria government is to receive a 7.5 percent Value Added Tax on Cryptocurrency transactions from users registered in the country from July 8, 2024.
A popular cryptocurrency platform, KuCoin disclosed this in a recent email notice to users in Nigeria.
“We are writing to inform you of an important regulatory update that impacts our users from the Republic of Nigeria.
“Starting from July 8th, 2024, we will begin collecting a Value-Added Tax (VAT) at a rate of 7.5 percent on transaction fees in each trade for users whose KYC information is registered in Nigeria.”
According to official data, cryptocurrency transaction volume is $59 billion yearly.
Meanwhile, Ray Youssef, director of NoOnes, a cryptocurrency platform said peer-to-peer business is worth $500 billion.
In February 2024, the Governor of the Central Bank of Nigeria, Olayemi Cardoso raised the alarm that a suspicious $26 billion was funneled through Binance without a trace.
NOTE: YOU can join our WhatsApp, Telegram for the news updates you need by sending your name & location to WhatsApp No. @ Wa.me/+2348111142174
PLEASE SEND STRICTLY TO WHATSAPP, DON’T SEND SMS MESSAGE OR CALL.
FOR your Advert Placement, Press Release, Press Conference, Interviews, Media & Publicity.
CONTACT VAM WHATSAPP NO. Wa.me/+2348072633727
voiceairmedia@gmail.com
PressRoom@ +2348111142174
A Court of Appeal in Abuja has affirmed the judgment of a federal high court…
Dr Kayode Fayemi, immediate past Governor of Ekiti State and former Chairman of the Nigerian…
News Update Ibrahim Adamu Bala has been selected by the Allied Peoples’ Movement (APM) as…
News Update THE Federal Government has suspended the recent hike of the fees for the…
Dangote Industries Limited has intensified efforts to combat illegal haulage activities involving its trucks by…
THE federal government says intensified efforts to curb illegal mining nationwide have led to the…