- KuCoin cryptocurrency exchange announced a 7.5% VAT charge on transaction fees for Nigerian users
- The VAT will only apply to the transaction fee, not the total transaction amount
- The new policy aims to comply with local tax regulations while maintaining regulatory standards
- Nigerian users are encouraged to adjust their trading strategies to accommodate the new VAT charges
- KuCoin is currently banned by the Nigerian government, leaving stakeholders perplexed
Source: cryptonews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
