The Mazhilis of the Parliament approved amendments to tax digital mining activities

Today, the Mazhilis of the Parliament of the Republic of Kazakhstan in the second reading approved the draft Law of the Republic of Kazakhstan "On Amendments to the Code of the Republic of Kazakhstan" On Taxes and Other Mandatory Payments to the Budget "(Tax Code)".

Among other legislative amendments, the tax law has been amended to tax digital mining activities.

These amendments imply an increase in revenues to the republican budget due to the introduction of a new type of payment as - the fee for digital mining.

Also, the additions made will contribute to the legalization of this industry, a significant part of which is still in the shadow sector.

A legible, at the same time, a coherent approach to taxation of this industry will certainly help to attract investment in both the digital mining industry and the electric power industry, and will also become the beginning for the development of renewable energy sources in Kazakhstan.

The Kazakhstan Association of Blockchain Technologies (hereinafter referred to as the Association) actively participated in all stages of the discussion of these amendments within the framework of working meetings in many state bodies and the Administration of the President of the Republic of Kazakhstan, during which the Association expressed its support for the initiatives of the Government and MPs of the Mazhilis of the Parliament of the Republic of Kazakhstan.