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News Explorer — Nigerian Users of KuCoin Must Now Pay a 7.5% Tax on Transactions

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Jul 4, 8:18 pm

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Nigerian Users of KuCoin Must Now Pay a 7.5% Tax on Transactions

KuCoin, a cryptocurrency exchange, announced that it will start charging a 7.5% value-added tax (VAT) on transactions for its Nigerian users. This move comes as a result of a regulatory update and applies to all transaction types on the KuCoin platform. Nigeria has previously attempted to levy taxes on cryptocurrency transactions, including a 10% capital gains tax on profits made from the disposal of digital assets.

KuCoin, a cryptocurrency exchange, announced that it will start charging a 7.5% value-added tax (VAT) on transactions for its Nigerian users. This move comes as a result of a regulatory update and applies to all transaction types on the KuCoin platform. Nigeria has previously attempted to levy taxes on cryptocurrency transactions, including a 10% capital gains tax on profits made from the disposal of digital assets.

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