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Kazakhstan is going to strengthen taxation of mining

 

The Lower Chamber of Kazakhstan’s Parliament today voted in the first reading for a bill to amend the Tax Code on taxation of mining.

At the beginning of the year, the country introduced a mining fee of 1 tenge per 1 kWh of electricity consumed. But from January 1, 2023, this tariff may become differentiated. It will depend on the cost of electricity: the more expensive it is, the lower the rate (from 1 to 10 tenge per 1 kWh).

This is done to avoid a large concentration of mining farms in regions with cheap electricity. The authorities are concerned that this may lead to a shortage of electricity for local businesses and households.

Recall that Kazakhstan has established new rules for mining.

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