The gradual scale would impose the best taxes on the cheapest electricity sources.
Kazakhstan, one of the global leaders in crypto mining with a recent history of hostile measures against the trade, is taking a step toward a comprehensive fiscal framework for mining operators.
On Thursday , May 25, the lower chamber of Kazakh parliament, Mejlis, passed within the first reading the amendments to the national tax code, regulating the fiscal burden on crypto mining. These amendments suggest graded tax rates tied to the electricity prices consumed by mining entities.
For example, the cheapest grade of electricity costs, five to ten tenges ($0,012–0,024) for Kwh, would come with an additional burden of 10 tenges ($0,024). For 10–15 tenges ($0,024–0,036) per Kwh, the tax would be 7 tenges ($0,017) and for 20–25 tenges ($0,048–0,060) per Kwh — 3 tenges ($0,0072).
Proposed amendments overstride the earlier initiative to raise the price for electricity from $0.0023 per Kwh to $0.01 for crypto miners, voiced by Kazakhstan’s first Vice Minister of Finance marat Sultangaziyev back in February.
( David Attlee, Cointelegraph, 2022 )