Quote from: sokani on Today at 11:40:10 AM

Nigerian government can be successful with the new taxation law by having crypto platforms that are registered and operating in the country like Patricia, Retimo, Luno etc. pay for their taxes but...Is this tax also applied to individuals using or trading cryptocurrency in these platforms?

Yes, but we need clear definition of how the tax is going to be collected. I guess it would be that people that trade or invest and make profit would be the ones to pay the tax after the net profit is positive.

But why mentioned Patricia? The exchange was hacked and their customers funds are still with them up till now.

Quote from: sokani on Today at 11:40:10 AM

If yes... Do you think they will have any luck in taxing individuals using this platforms since we've not really had good results in collecting taxes from physical businesses?

There will always be tax evaders, it is also in developed countries, but maybe not as worse as it is in Nigeria. Introducing tax on crypto will be beneficial for the country is all I could think of.

Quote from: sokani on Today at 11:40:10 AM

Also, most of these crypto merchants charges high transaction fees already and with the new law in place, can these platforms include a tax fee for every transactions without most users noticing?

We need to know the regulatory framework about this. Is there one already? I do not have time to read about the Finance Act yet, but I think it is just an introduction of 10% tax for crypto that is included yet for now.

https://pwcnigeria.typepad.com/files/2022-finance-bill_hor.pdf