Kazakhstan’s miners paid $6.7 million in taxes for 2022

In 2022, Kazakhstan’s budget received 3.07 billion tenge ($6.7 million) in taxes from mining companies. local media.

According to the Committee for State Revenue of the Ministry of Finance, from January 1 to April 27, 2023, 240 million tenge ($540,000) in fees were paid.

The department noted that the tax on mining activity for the first quarter of 2023 must be paid by May 25. Its amount is calculated based on the amount of electricity used.

From 1 April, the partial entry into force of Law on Digital Assets in Kazakhstan, regulating, in particular, cryptocurrency mining. Mining was allowed only for participants of the Astana International Financial Centre and non-resident legal entities with a contract with licensed data centres.

For mining pools, separate requirements were introduced regarding the location of their server capacity within the country and compliance with information security rules.

According to the Cambridge Centre for Alternative Finance, as of January 2022 Kazakhstan held third place in the share of Bitcoin’s hashrate at 13.22%.