👀 Watchlist Winners: Copy Legendary Investors' Portfolios in One ClickSee Undervalued Stocks

Federal Government of Nigeria Charges Binance With Tax Evasion: Details

Published 03/25/2024, 07:30 PM
Updated 03/25/2024, 07:45 PM
Federal Government of Nigeria Charges Binance With Tax Evasion: Details

  • Nigeria’s FIRS has taken legal action against Binance for alleged tax evasion.
  • The charges include failure to pay VAT, company income tax, and failure to file tax returns.
  • Two Binance executives are currently in the custody of the Economic and Financial Crimes Commission.

Nigeria’s Federal Inland Revenue Service (FIRS) has taken legal action against crypto giant Binance for alleged tax evasion. On March 25, the FIRS filed a criminal charge before the federal high court in Abuja, accusing Binance of multiple counts of tax evasion. Details of the charges were captured in local media, TheCable.

The lawsuit, designated as suit number FHC/ABJ/CR/115/2024, implicates Binance alongside two senior executives, Tigran Gambaryan and Nadeem Anjarwalla. According to the report, these Binance executives are currently in the custody of the Economic and Financial Crimes Commission (EFCC).

The charges against Binance include failure to pay value-added tax (VAT), company income tax, failure to file tax returns, and complicity in aiding customers to evade taxes through its platform. Additionally, Binance is accused of failing to register with the FIRS for tax purposes and co…

The post Federal Government of Nigeria Charges Binance With Tax Evasion: Details appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.