Economics

Cryptocurrency mining will be charged in Kazakhstan

Photo: coinrevolution.com
In Kazakhstan, from January 1, 2022, amendments to the Tax Code of the Republic of Kazakhstan, regulating the collection of fees for cryptocurrency mining, come into force, Kazpravda.kz reports with reference to the Department of State Revenues of Almaty.

These amendments were made by the Law of the Republic of Kazakhstan dated June 24, 2021 No. 53-VII "On Amendments and Additions to the Code of the Republic of Kazakhstan" On Taxes and Other Mandatory Payments to the Budget "(Tax Code) and the Law of the Republic of Kazakhstan "On Enactment of the Code of the Republic Kazakhstan "On taxes and other obligatory payments to the budget" (Tax Code)".

Thus, in accordance with the adopted changes, new articles 606-1, 606-2, 606-3, 606-4, 606-5 of the Tax Code "Payment for digital mining" have been introduced. Payers of fees for digital mining will be legal entities and individuals engaged in digital mining (mining of cryptocurrency).

"The object of payment is the amount of electricity consumed for digital mining (mining of cryptocurrency). The rate of payment for digital mining will be 1 tenge per 1 kilowatt of electricity power consumed during digital mining (mining of cryptocurrency). Tax period for calculating the payment for digital mining is a quarter, tax reporting is not provided," - said in the message.

Payers will inform the authorized body for mining, which is the Committee for Information Security of the Ministry of Digital Development, Innovation and Aerospace Industry of the Republic of Kazakhstan, about the results of their activities.
Author:
Ekaterina Eliseyeva
14:00, 13 July 2021
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