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Izy OKU
1 month ago
Overview
FG Slams $81.5bn Lawsuit Against Binance Over Tax, Economic Losses
The Federal Government through the Federal Inland Revenue Services (FIRS) has taken legal action against leading cryptocurrency platform, Binance Holdings Limited, filing a lawsuit in the Federal High Court in Abuja, demanding $81.5 billion in compensation and taxes.
FIRS alleged that Binance caused significant economic losses in Nigeria by failing to comply with tax regulations and other laws. The suit includes a demand for $2.001 billion in unpaid income taxes for 2022 and 2023, alongside penalties for non-compliance.
The FIRS accused Binance, along with two of its executives, of concealing its business operations in Nigeria and violating multiple Nigerian laws.
https://newtelegraphng.com/fg-slams-81-5bn-lawsuit-against-binance-over-tax-economic-losses
