Kazakhstan introduces an added tax levy for energy used by crypto miners starting from January 2022 due to its popularity in crypto mining.
President of the Republic of Kazakhstan Kassym-Jomart Tokayev signed a new law that imposes an additional tax fee for energy utilized by crypto miners operating in the country. The new fees will take effect starting in January 2022.
The new law introduces an added fee of 1 Kazakhstan Tenge ($0.00233) per kilowatt-hour used by crypto currency miners according to a local news agency. The tax levy is part of a series of legislative alterations to the national tax code concerning crypto miners.
Albert Rau who is the Chairman of the committee for economic reform and regional development had said that the main goal of the new legislation is to regulate the crypto mining industry and bring it out of the shadows. Rau is a former First Vice-Minister of investment and development of Kazakhstan and is reportedly the author of the new legislative initiative.
