Nigerian crypto tax move is ‘premature’ — Local stakeholders By Cointelegraph
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The president of the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), Obinna Iwunna, has commented on the implementation of the Finance Act, 2023, which was signed into law on May 28. According to Iwunna, the successful execution of the law will be challenging due to its premature introduction.
The act introduces a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the disposal of digital assets, including cryptocurrencies.
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The president of the Stakeholders in Blockchain Technology Association of Nigeria (SIBAN), Obinna Iwunna, has commented on the implementation of the Finance Act, 2023, which was signed into law on May 28. According to Iwunna, the successful execution of the law will be challenging due to its premature introduction.
The act introduces a series of tax reforms aimed at modernizing the country’s fiscal framework. Among its provisions was the introduction of a 10% tax on gains from the disposal of digital assets, including cryptocurrencies.
Continue Reading on Coin Telegraph
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