A Federal High Court in Abuja has adjourned a case brought by Nigeria’s Federal Inland Revenue Service (FIRS) against Binance Holdings Ltd until April 7. The tax authority is demanding $79.5 billion in damages, citing alleged economic losses linked to the company’s operations in the country.
FIRS, represented by senior lawyer Kanu Agabi, is seeking a ruling on whether Binance and two executives, Tigran Gambaryan and Nadeem Anjarwalla, are liable for corporate income tax in Nigeria for 2022 and 2023. The agency argues that the firm had a significant economic presence in the country during that period.
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The regulator is asking the court to compel Binance to pay $2 billion in outstanding taxes and impose an annual 10% penalty on unpaid amounts.
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