The Nigerian government passes new tax law, making crypto transactions traceable and included in the tax reporting system
BlockBeats News, January 13, according to TechCabal, the Nigerian government has enacted a new tax law that links crypto transactions to real identities using Tax Identification Numbers (TIN) and National Identification Numbers (NIN), making crypto transactions traceable and included in the tax reporting system without the need to crack the blockchain itself. Virtual Asset Service Providers (VASP) are required to collect and report clients' TIN/NIN, names, addresses, and other information, and to submit monthly transaction data to tax authorities as stipulated. They must also report large or suspicious transactions to law enforcement agencies.
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