Kazakhstan unveils amount of revenues to government budget from digital mining

Kazakhstan Materials 31 May 2022 09:21 (UTC +04:00)
Kazakhstan unveils amount of revenues to government budget from digital mining
Nargiz Sadikhova
Nargiz Sadikhova
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BAKU, Azerbaijan, May 31. According to the results of the first quarter of 2022, the budget received 652 million tenge ($1.5 million) in payment for digital mining, Trend reposts citing Kazakh State Revenue Committee of the Ministry of Finance.

A fee for digital mining has been introduced from January 1, 2022. The payers are persons carrying out activities in the sphere of digital mining, the fee is charged for actual amount of electrical energy consumed in the course of activities.

It is paid quarterly no later than the 20th day of the month following the reporting quarter. Tax reporting on fees for digital mining is not provided for by Kazakh Tax Code. The fee rate is calculated at the rate of one tenge ($0.002) per kilowatt-hour of electrical energy.

Payment for digital mining came from payers in 12 regions of the country:

Nur-Sultan city - 277.3 million tenge ($640,000)

West Kazakhstan Province - 143.1 million tenge ($330,000)

Aktobe Province - 48.9 million tenge ($113,000)

Karaganda Province - 45.2 million tenge ($104,300)

Pavlodar Province - 36.9 million tenge ($85,200)

Almaty city- 36.1 million tenge ($83,300)

Atyrau Province - 26.4 million tenge ($61,000)

East Kazakhstan Province - 24.3 million tenge ($56,100)

Almaty Province - 11.1 million tenge ($25,600)

Turkestan region - 2.2 million tenge ($5,080)

Zhambyl Province – 685,100 tenge ($1,580)

Kostanay Province – 39,900 tenge ($92)

Money goes to the government budget, therefore, the region where the fees came from and the region where the mining farm is located may differ.

Large fee payers are AI Solutions LLP with the amount of 93.2 million tenge ($215,200), branch of LLYAGRO-ENERGY LLP with the amount of 76.7 million tenge ($177,100), BCD Company LLP with the amount of 53.8 million tenge ($124,200).

Earlier, information was posted in the media that, in order to ensure energy security, most enterprises engaged in mining have been disconnected from electricity since October 2021, and therefore most of the expected amount did not go to the budget.

"In addition, we inform you that Kazakh Parliament is considering a bill that provides for an increase in the rate of payment for digital mining," Kazakh State Revenue Committee noted.