surcharge – DIGIT INFO

Kazakhstan President Signs Law Increasing Tax Burden for Crypto Miners

DIGIT — Wed, 13 Jul 2022 04:30:47 +0000

President of Kazakhstan Kassym-Jomart Tokayev has signed into law a bill amending the country’s Tax Code to impose higher tax rates on crypto miners. The levy will depend on the amount and average price of electricity utilized in the extraction of digital currencies like bitcoin. Cryptocurrency Miners in Kazakhstan to Pay Higher Taxes President Tokayev […]

Go to Source

Uzbekistan Presents Registration Requirements for Cryptocurrency Miners

DIGIT — Wed, 29 Jun 2022 21:30:48 +0000

Authorities in Uzbekistan have drafted and put forward for public consultations a set of rules for crypto miners operating in the country. Companies that want to mint digital currencies will have to register with the government and use renewable energy. Uzbekistan Discusses Draft Regulations for Crypto Mining Sector Entities involved in cryptocurrency mining will need […]

Go to Source

Kazakhstan Makes $1.5 Million From Crypto Mining Sector in Q1

DIGIT — Wed, 01 Jun 2022 08:30:03 +0000

The government of Kazakhstan has collected $1.5 million from crypto miners in the first quarter of this year, official data shows. The money comes from a fee charged on the electricity spent to mint digital currencies, which was introduced in January. Crypto Mining Increases Budget Revenues in Kazakhstan Kazakhstan has received 652 million tenge (almost […]

Go to Source

Proposed Crypto Mining Ban in Norway Fails to Gain Support in Parliament

DIGIT — Fri, 13 May 2022 21:30:32 +0000

A push to prohibit the energy-intensive proof-of-work mining of cryptocurrencies in Norway has been rejected by the majority of lawmakers. The ban had been suggested by the far-left Red Party which also didn’t win backing to raise an electricity tax for crypto miners. Norway Will Not Ban Bitcoin Mining The parliament of Norway has considered […]

Go to Source

Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims

DIGIT — Thu, 24 Feb 2022 07:00:01 +0000

Authorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining […]

Go to Source

Kazakhstan President Orders Government to Find All Miners and Raise Tax by April

DIGIT — Thu, 10 Feb 2022 14:30:12 +0000

President of Kazakhstan Kassym-Jomart Tokayev has instructed authorities to identify all crypto mining enterprises and increase the electricity surcharge they are required to pay. The state is not against legal mining activities, but crypto farms should be licensed and taxed, Tokayev insisted. Miners in Kazakhstan to Pay Higher Electricity Tariffs On top of electricity shortages […]

Go to Source

Kazakhstan Mulls Fivefold Increase of Electricity Tax on Crypto Mining

DIGIT — Wed, 09 Feb 2022 05:00:51 +0000

Authorities in Kazakhstan are discussing new regulations for the country’s crypto space that may lead to a serious increase in the tax burden on the mining business. Among the proposed changes is a fivefold hike of the fee miners pay per each kilowatt-hour of utilized electricity. Mining Companies in Kazakhstan Expected to Pay Much More […]

Go to Source

Kazakhstan Introduces Surcharge for Electricity Used by Crypto Miners

DIGIT — Thu, 01 Jul 2021 05:30:10 +0000

Cryptocurrency miners in Kazakhstan will pay more than other consumers for the electricity they use to mint digital coins. The country’s president has signed a law that imposes an additional fee for the power utilized by the energy intensive industry. Coin Miners in Kazakhstan to Pay Extra Fee per Kilowatt-hour of Electricity Crypto mining entities […]

Go to Source