The Federal Government, on Monday, slammed Binance with four-count tax evasion charges.
The government, through the Federal Inland Revenue Service (FIRS), filed the criminal charges against Binance at the Federal High Court in Abuja.
The suit number is FHC/ABJ/CR/115/2024.
The FIRS, in a statement on Monday, said the move was aimed at upholding fiscal responsibility and safeguarding the economic integrity of the country.
It said: “The Federal Government also accused Binance of failure to register with FIRS for tax purposes and contravening existing tax regulations within the country.
“One of the counts in the lawsuit pertains to Binance’s alleged failure to collect and remit various categories of taxes to the federation as stipulated by Section 40 of the FIRS Establishment Act 2007 as amended.
“Section 40 of the Act explicitly addresses the non-deduction and non-remittance of taxes, prescribing penalties and potential imprisonment for defaulting entities”.
