The federal government has filed a criminal charge against Binance, a popular cryptocurrency platform, for “tax evasion”, According to multiple reports.
The charge was filed before the federal high court in Abuja on March 25 by the Federal Inland Revenue Service (FIRS), according to a statement on Monday.
The FIRS said the move is aimed at upholding fiscal responsibility and safeguarding the economic integrity of the country.
The lawsuit, designated as suit number FHC/ABJ/CR/115/2024, implicates “Binance with a four-count tax evasion accusation.” Joined with the crypto company as second and third defendants in the suit are Tigran Gambaryan and Nadeem Anjarwalla, both senior executives of Binance currently under the custody of the Economic and Financial Crimes Commission (EFCC),” the statement reads
The FIRS said the charges levied against Binance include non-payment of value-added tax (VAT), company income tax, failure to file tax returns, and complicity in aiding customers to evade taxes through its platform.
More so, in the suit, the federal government also accused Binance of failing to register with the 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,” the agency said.
