Budget receives only 53 million soms in cryptocurrency mining tax in 2024
The budget of Kyrgyzstan received only 53 million soms in the cryptocurrency mining tax in 2024. Materials of the Ministry of Finance of Kyrgyzstan for the period from January to December 2024 say.
This is 43 percent less than in 2023, when revenues amounted to 93.7 million soms.
At the same time, despite the decrease in revenues, in December last year the amount of the cryptocurrency mining tax increased by 6.4 million soms.
It should be noted that the Ministry of Finance also recorded a decrease in the receipt of this type of tax based on the results of seven months. As of August, revenues from the cryptocurrency mining tax to the country’s budget in the first seven months of 2024 decreased by 29.7 percent compared to the same period last year.
Recall, the cryptocurrency mining tax rate is 10 percent of the electricity bills paid. It also includes VAT and sales tax.
