Court Adjourns Tax Evasion Case Against Binance

A Federal High Court in Abuja has adjourned the tax evasion case against a popular cryptocurrency exchange platform, Binance  Holdings Limited, till Friday, April 19, 2024.

Recall that the Nigerian Government through the Federal Inland Revenue Service (FIRS) had dragged the firm to court for alleged tax evasion.

Also joined in the suit marked: FHC/ABJ/CR/115/2024, are officials of the cryptocurrency company, Tigran Gambaryan, and Nadeem Anjarwalla.

In the suit, Binance was accused of failing to register with the FIRS for the purpose of paying all relevant taxes administered by the service.

The FIRS also claimed that the company failed to issue invoices to the subscribers for the purposes of determining and payment of its Value Added Taxes (vats) while it was offering taxable services to subscribers on its trading platform.

The matter was adjourned on Thursday till Friday, April 19 following the inability of the FIRS to serve Gambaryan the charges in EFCC custody.

In a related development, the alleged money laundering case instituted by the EFCC against the firm is underway as of the time of filing this report.