In a significant move aimed at upholding fiscal responsibility and preserving the economic integrity of the nation, the Federal Government has taken legal action against Binance, a prominent cryptocurrency exchange platform.
The charges, formally lodged at the Federal High Court in Abuja, were announced on Monday by the Federal Inland Revenue Service (FIRS).
Designated as suit number FHC/ABJ/CR/115/2024, the lawsuit implicates Binance with a four-count tax evasion accusation.
Accompanying the crypto company as second and third defendants in the suit are Tigran Gambaryan and Nadeem Anjarwalla, both senior executives of Binance currently held in custody by the Economic and Financial Crimes Commission (EFCC).
The charges leveled against Binance include allegations of 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.
Furthermore, the Federal Government accuses Binance of neglecting to register with FIRS for tax purposes and contravening existing tax regulations within the country.
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