A Federal High Court in Abuja on Friday discharged Tigran Gambaryan and Nadeem Anjarwalla of Binance Holdings Limited for tax evasion.
The Federal Inland Revenue Service (FIRS) had dragged both before the court.
The court gave the ruling on Friday after the FIRS altered its charges in response to Binance appointing a Nigerian representative, Ayodele Omotilewa.
The Federal Inland Revenue Service (FIRS) initially filed legal proceedings against Binance and Gambaryan on March 22, 2024, accusing them of tax evasion. On May 17, 2024, the FIRS amended its lawsuit to allege that Binance failed to collect and remit various taxes, particularly Value Added Tax and Company Income Tax, in accordance with Section 40 of the FIRS Establishment Act 2007, as amended.
The court decided to discharge Gambaryan and Anjarwalla after Binance and the FIRS confirmed the appointment of Omotilewa as the company’s representative.
The FIRS, however, filed new charges, naming Binance as the sole defendant in the case, following the confirmation.
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