Kazakhstan mining companies ask the authorities to reduce taxes on them – Bits Media

Eight Kazakhstan mining companies sent an open letter to the President of the country Kasym-Zhomart Tokaev with a request to reduce their taxes. The appeal has already been registered with the presidential administration.

In a letter from BCD Company LLP, ЧК «TT TECH Limited», Number «kz Systems», Number «AI Solutions», Zhambyl branch of Kinur LLC, ЧК «Green Power Solution Ltd.», Number «Vercom» «Kinur Invest» Parli, that the mining industry in Kazakhstan "is in an extremely distress".

“Today, all the largest representatives of the industry have suspended activities and plan until the end of the year the complete cessation of their business in the Republic of Kazakhstan”, - The letter says.

The companies noted, that there are many problems in the country, related to high taxation. And if the state does not take urgent measures, then the mining industry in Kazakhstan will simply cease to exist.

“It remains to ban digital mining at the legislative level and enter the list of countries, who have already introduced a similar ban: Bangladesh, Iraq, Bolivia, Colombia, Egypt, Iranian, Kosovo and Nepal », - write the authors of the letter.

In May it became known, that the Government of Kazakhstan for 2022 The year received 3,07 billion tenge (about $7 million) In the form of taxes from miners. As local media write, The reason was the entry into force of amendments to the Tax Code.

The Republic of Kazakhstan is one of the leading world centers for Bitcoin mining. According to the Cambridge Center for Alternative Finance (Cavalry), in January 2022 years, the share of Kazakhstan in the Hashrate Bitcoin was 13,22%, Giveled only the United States (37,84%) And China (21,11%).