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#Nigerian crypto tax move is ‘premature’ – local stakeholders
The Finance Act, 2023, which was signed into law on May 28 has been implemented, according to comments made by #ObinnaIwunna, president of the #Stakeholders in Blockchain Technology Association of Nigeria (#SIBAN ). Iwunna asserts that the law's hastily enacted nature will make its successful application difficult.
The act contains a number of #tax adjustments intended to update the nation's budgetary structure. A 10% tax on gains from the sale of digital assets, such as cryptocurrency, was one of its stipulations.
The Finance Act, 2023, which was signed into law on May 28 has been implemented, according to comments made by #ObinnaIwunna, president of the #Stakeholders in Blockchain Technology Association of Nigeria (#SIBAN ). Iwunna asserts that the law's hastily enacted nature will make its successful application difficult.
The act contains a number of #tax adjustments intended to update the nation's budgetary structure. A 10% tax on gains from the sale of digital assets, such as cryptocurrency, was one of its stipulations.