KuCoin to charge 7.5% VAT on crypto trades in Nigeria
- KuCoin will start charging Nigerian users a 7.5% VAT on crypto trades.
- The VAT will be added to all kinds of transactions on KuCoin from transfers to trades.
- The VAT charge will start on July 8, 2024, and will be applied to all transactions on KuCoin.
The introduction of a 7.5% VAT on crypto transactions by KuCoin in Nigeria is likely to have a negative impact on the crypto industry in the country. This comes after a series of clampdowns on crypto companies, creating a challenging environment for the industry.
