The Federal Inland Revenue Service (FIRS) has filed an amended four-count charge against Binance Holdings Limited and its executive, Tigran Gambaryan, on alleged tax evasion.
The Service counsel, Barrister Moses Ideho, gave this hint on Friday before Justice Emeka Nwite of a Federal High Court, Abuja.
The lawyer told the court that following the escape of Nadeem Anjarwalla from lawful custody, the agency deemed it necessary to amend the charge to properly reflect Anjarwalla’s position in the instant charge, as being at large.
He clarified: “We apply to substitute our charge dated 22nd of March, 2024 with an amended charge dated 17th of May, 2024.
“We apply that the charge be read to the 1st and 2nd defendants (Binance and Gambaryan) in order to take their plea”, Ideho added
However, counsel for Binance, Chukwuka Ikwuazo, who also appeared for Gambaryan, opposed the application by the FIRS counsel the fresh charge be read to his clients since the charge was just being filed that morning and he was yet to see it in order to consult with his clients so as to prepare for their defence.
Following the defence counsel’s argument, Justice Nwite adjourned the matter until May 22 for arraignment.
Earlier in his ruling, the Judge ordered that the FIRS should serve the company (1st defendant) through Gambaryan (2nd defendant) the charge in the matter.
Justice Nwite held that Gambaryan, being the Binance Chief Financial Compliant Officer, ought to be served with the charge as the company’s representative in Nigeria in accordance with the law.
He rejected the defence counsel’s argument that Gambaryan was neither a director, secretary nor chief agent of the crypto-currency firm.
It would be recalled that the court had fixed their arraignment for April 4 but could not proceed due to inability of FIRS to effect service of the charge on the defendants.
According to the charge filed by the FIRS on March 22 this year, the defendants are being charged on a four counts committed on or about February 1this year, bordering on alleged tax evasion in the charge marked: FHC/ABJ/CR/115/2024.
Specifically Count one of the charge alleged that while involved in carrying and offering services to subscribers on their platform, known as Binance, failed to register with the FIRS, for the purpose of paying all relevant taxes administered by the service.
The offences were said to be punishable under Sections 8 and 29 of the VAT Act of 1993 (as Amended), Section 40 of the FIRS Establishment Act, 2007 (as amended) and under provisions of Section 94 of the Companies Income Tax Act (as amended) respectively.
