FIRS files criminal charges against Binance

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Abuja, March 25, 2024 – The Federal Inland Revenue Service (FIRS) says it has filed criminal charges against Binance, a cryptocurrency trading platform, at the Federal High Court in Abuja.

In the suit no FHC/ABJ/CR/115/2024, the FIRS is alleging four separate tax offenses against the company.

In an official statement released on Monday in Abuja, the FIRS said the charges included non-payment of Value Added Tax (VAT), failure to file tax returns, non-payment of Company Income Tax (CIT) and “aiding customer tax evasion.”

The FIRS alleged that Binance’s platform facilitated customer tax evasion, marking a critical accusation against the cryptocurrency exchange.

It said the lawsuit extended beyond mere registration issues, emphasizing Binance’s failure to comply with existing Nigerian tax regulations.

The Federal Government had accused Binance of failing to register with FIRS for tax purposes and contravening established tax regulations within the country. (GBN)

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