A Nigerian court has postponed the tax evasion case against Binance until April 30 to allow Nigeria’s tax authority to respond. Binance’s lawyer requested the court to invalidate an order for serving court documents via email, arguing that the company, registered in the Cayman Islands, should not be served outside the country. The Federal Inland Revenue Service (FIRS) sued Binance for $2 billion in back taxes and $79.5 billion in damages, alleging destabilization of the local currency. FIRS also claimed Binance should pay corporate income tax in Nigeria. Executives were arrested on tax fraud charges, but charges were dropped later. Binance ceased naira transactions in 2024, exiting the Nigerian market. One executive escaped custody, while the other returned to the US for health reasons. The case highlights the complexities of crypto taxation and international legal disputes.
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