The Nigerian Government has initiated criminal proceedings for tax evasion against global cryptocurrency exchange platofrm Binance.
The charges, filed at the Federal High Court in Abuja, were announced on Monday by the Federal Inland Revenue Service . The lawsuit implicates Binance with a four-count tax evasion accusation. READ ALSO: Binance executive arrested in Nigeria escapes…
In the suit, the Federal Government also accused Binance of failure to register with FIRS for tax purposes and contravening existing tax regulations within the country.One of the counts in the lawsuit pertains to Binance’s alleged failure to collect and remit various categories of taxes to the federation as stipulated by Section 40 of the FIRS Establishment Act 2007 as amended.
“But Binance did not do this properly. So, the company broke Nigerian laws and could be investigated and taken to court for this infraction. One of the two executives of Binance detained by the Nigerian government has escaped custody, according to a report. Nigerian authorities detained two senior officials of Binance – the world’s largest cryptocurrency exchange – in late February when they arrived the West African country to dialogue with government officials over the clampdown on the cryptocurrency…
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