The Federal Government is set to arraign Binance Holdings Limited and its top officials, Tigran Gambaryan and Nadeem Anjarwalla, on April 4, on allegations of tax evasion. The arraignment before Justice Emeka Nwite of a Federal High Court in Abuja follows a four-count charge against the defendants.
The charges include failure to register with the Federal Inland Revenue Service (FIRS) for tax purposes, failure to issue invoices for value-added taxes (VATs) to subscribers, failure to deduct necessary VATs from cryptocurrency transactions, and aiding subscribers to unlawfully refuse or neglect to pay taxes.
The offences are punishable under various sections of the VAT Act of 1993 (as Amended), FIRS Establishment Act of 2007 (as amended), and Companies Income Tax Act (as amended).
Source: Parrot Nigeria