{"id":64261,"date":"2022-07-11T18:56:25","date_gmt":"2022-07-11T15:56:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64261"},"modified":"2025-09-06T13:27:52","modified_gmt":"2025-09-06T10:27:52","slug":"kazakhstans-president-signs-law-setting-mining-tax-rates","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kazakhstans-president-signs-law-setting-mining-tax-rates\/","title":{"rendered":"Kazakhstan&#8217;s president signs law setting mining tax rates"},"content":{"rendered":"<p>The president of Kazakhstan, Kassym-Jomart Tokayev <a href=\"https:\/\/www.akorda.kz\/ru\/glavoy-gosudarstva-podpisan-zakon-respubliki-kazahstan-o-vnesenii-izmeneniy-i-dopolneniy-v-kodeks-respubliki-kazahstan-o-nalogah-i-drugih-obyazatelnyh-platezhah-1164554\">signed<\/a> a law providing for differentiated tax rates on mining.<\/p>\n<p>The rate is determined according to the average price of electricity during the reporting period:<\/p>\n<ul class=\"wp-block-list\">\n<li>at a cost of 5\u201310 tenge per kWh, the tax rate will be 10 tenge;<\/li>\n<li>10\u201315 tenge per kWh \u2014 rate 7 tenge;<\/li>\n<li>15\u201320 tenge per kWh \u2014 rate 5 tenge;<\/li>\n<li>20\u201325 tenge per kWh \u2014 rate 3 tenge;<\/li>\n<li>25 tenge and above per kWh \u2014 rate 1 tenge.<\/li>\n<\/ul>\n<p>When using renewable energy sources, regardless of electricity cost, the tax rate for miners will be 1 tenge per kWh.<\/p>\n<p>The law is intended to \u201cequalize the load and deter the consumption of self-generated electricity\u201d.<\/p>\n<p>Back on 1 January 2022, Kazakhstan <a href=\"https:\/\/u1f987.com\/en\/news\/kazakhstan-president-signs-law-introducing-an-additional-mining-fee\">introduced an additional tax of 1 tenge per kWh of electricity<\/a> consumed by mining.<\/p>\n<p>In February, President Tokayev <a href=\"https:\/\/u1f987.com\/en\/news\/kazakhstans-president-orders-higher-taxes-on-cryptocurrency-mining\">urged raising the tax on cryptocurrency mining<\/a>. The Ministry of Economy proposed <a href=\"https:\/\/u1f987.com\/en\/news\/kazakhstan-considers-tenfold-rise-in-mining-tax\">to raise the rate tenfold<\/a>, and floated plans <a href=\"https:\/\/u1f987.com\/en\/news\/kazakhstan-considers-tying-mining-tax-to-cryptocurrency-prices\">to link miners&#8217; tax to the price of cryptocurrencies<\/a>.<\/p>\n<p>In May, a bill touching mining taxation <a href=\"https:\/\/www.parlam.kz\/ru\/mazhilis\/news-details\/id49498\/1\/1\">passed<\/a> in the first reading.<\/p>\n<p>Against the backdrop of higher taxes and electricity supply constraints, many players in the mining business have begun leaving Kazakhstan.<\/p>\n<p>Read ForkLog Bitcoin news in our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The president of Kazakhstan, Kassym-Jomart Tokayev, signed a law providing for differentiated tax rates on mining.<\/p>\n","protected":false},"author":1,"featured_media":64262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,153,36,558],"class_list":["post-64261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-kazakhstan","tag-regulation","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"28","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64261"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64261\/revisions"}],"predecessor-version":[{"id":64263,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64261\/revisions\/64263"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64262"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}