Kyrgyzstan plans to raise over $1 million through the taxation

Kapil334

Golden Finance reports that the government of Kyrgyzstan plans to raise over $1 million through taxing the cryptocurrency mining industry in 2023. According to the country's Ministry of Finance report, they have collected tax revenue worth $900,000 from cryptocurrency miners in the first 11 months of 2023. In August, miners paid over $132,000 in taxes to the state government. The data from the Ministry of Finance indicates a growth in cryptocurrency mining activities in Kyrgyzstan. The report highlights that tax revenues related to mining have been actively increasing since the second quarter of this year, with tax amounts close to $8,300 in February, and a rapid surge in income in April.

Indra55

The tax is indeed quite high.