NUR-SULTAN – The tax on digital mining will be increased starting January of next year and will depend on the cost of electricity consumed in Kazakhstan, reported the State Revenue Committee press service of the Kazakh Ministry of Finance.
The revisions to Kazakhstan’s Tax Code announced last month call for a progressive scale of tax rates for digital mining. According to them, the tax rate for digital mining will now depend on the cost of one kilowatt-hour of electricity.
When using a low tariff rate, a high tax rate will be applied, the upper scale of which reaches 25 tenge (US$ 0.052). As for the case of a high tariff rate with the cost per kilowatt-hour from 24 tenge (US$ 0.05) and above, it will entail a minimum tax rate of one tenge (US$ 0.0021).