BAKU, Azerbaijan, September 29. The standard type of taxation should be applied in the mining industry, First Vice Minister of Digital Development, Innovation and Aerospace Industry Zhaslan Madiyev said during the presentation of the draft law 'On digital assets of the Republic of Kazakhstan', Trend reports citing Kazakh media.
The draft law was presented at the meeting of the Committee on Economic Reform and Regional Development of Kazakhstan's Parliament.
"The Parliament understands that this draft law can't be ideal at once. This market is quite dynamic and is instantly developing. However, it will give a certain framework, which the Parliament will constantly increase and develop, taking into account the rapid development of this market. From the point of view of taxation, there is a certain type of additional fee for one kilowatt/hour of consumption of electricity during mining as of today. And recently amendments have been made and this fee has been increased. Ultimately, in the future, we will have to come to civilized taxation of this industry,” Madiyev stated.
According to him, today most countries apply standard types of taxes: income tax; capital gains tax, which are fixed at the time the asset is sold.
Madiyev noted that the next stage in the development of mining taxation will require studying approaches to the application of standard types of taxes.