Kazakhstan May Tax Crypto Mining At a Flat-Rate of 15%
A proposal made by the government of Kazakhstan aims to impose a 15% flat-rate tax on crypto mining. The plan would use any funds accumulated through the tax to deal with the COVID-19 crisis in the country.
According to Forbes, the Ministry of the Economy hopes to combat COVID-19 by funding countermeasures through the collection of such taxes. This represents a departure from the nation’s previous statements, which indicated a different stance from the country. Officials stated that approximately 6% of the world’s (BTC) hash rate comes from Kazakhstan.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.