Trading in bitcoins attracts income tax

Since cryptocurrencies are not recognized as legal currencies by the CBK, dealings with them may not be regarded as financial services. FILE PHOTO | NMG

Digital technology has emerged as one of the major disruptors in the 21st Century. This has been occasioned by the ubiquitous developments in information technology.

One of the major innovations that has hit the world by storm is cryptocurrencies. It is generally defined as a digital asset/currency that is used as a medium of exchange.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.