July 21, 2024

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Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users

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Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian Users
Kucoin to Implement 7.5% VAT on Transaction Fees for Nigerian UsersNigeria-based KuCoin users will begin being levied a 7.5% value-added tax (VAT) on transaction fees starting on July 8. Some observers believe that Kucoin’s decision to implement this tax is intended to enhance its chances of securing an operating license. A Lagos-based crypto industry player stated that implementing the tax will likely harm the industry. […]