FG Files Tax Evasion Charges Against Binance
The Federal Government has initiated criminal proceedings against Binance, a prominent cryptocurrency exchange platform.
The charges, filed at the Federal High Court in Abuja, were announced on Monday by the Federal Inland Revenue Service (FIRS).
According to a statement on Monday by the Special Adviser, Media to the FIRS chairman, Dare Adekanmbi, the lawsuit implicates Binance with a four-count tax evasion accusation.
The charges levied against Binance include 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.
Joined with the crypto company as second and third defendants in the suit are Tigran Gambaryan and Nadeem Anjarwalla, both senior executives of Binance currently under the custody of the Economic and Financial Crimes Commission (EFCC).
In the suit, the Federal Government also accused Binance of failure to register with FIRS for tax purposes and contravening existing tax regulations within the country.
Binance had pleaded guilty to flouting anti-money laundering laws in the United States in late 2023, settling for a plea bargain that cost the company $ 4.3 billion.
