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The Minister of National Economy of Kazakhstan, Alibek Kuantirov, announced the plans of the authorities to tie the tax rate for miners to the cost of cryptocurrencies, local media write.
According to him, the ministry is studying the possibility of increasing the tax burden for cryptocurrency mining activities:
“At the moment, linking the tax rate for miners to the value of cryptocurrency is also being considered. If the cryptocurrency grows, it will be good for the budget.”
The head of the National Association of Blockchain and Data Center Industry of Kazakhstan, Alan Dorjiev, in a comment to ForkLog, explained that this refers to the relationship between the price of bitcoin and the tax per 1 kWh consumed for its production:
“Graduation is being considered – for example, up to $40,000 [цена биткоина] one tax, over $40,000 another tax, and so on. But it’s still up for discussion.”
The issue with the extraction of other cryptocurrencies and taxation has not yet been raised, he noted.
Recall that in February, the President of Kazakhstan, Kassym-Jomart Tokayev, ordered to increase the tax on mining. The Ministry of National Economy proposed to increase the tax rate by 10 times.
At the same time, the supply of electricity to registered miners was stopped back in January. According to Dordzhiev, they have not been resumed so far.
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