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Cryptocurrency mining tax revenues decrease by 3.7 million soms for month

Budget revenues from taxes on cryptocurrency mining amounted to 7,933.9 million soms in September. The report of the Ministry of Finance of Kyrgyzstan on budget execution says.

Over the month, the figure decreased by 31.8 percent, or by 3.7 million soms. To date, the highest volume of receipts recorded since the beginning of the year was in August — 11.6 million. Previously, high levels of cryptocurrency mining tax transfers were also registered in June (10,544.3 million soms) and July (10,414.8 million soms).

In just nine months, the treasury was replenished at the expense of this tax by 63,772 million soms.

Payments began to grow actively in the second quarter of the year. For April — August, the budget received 49,180.7 million soms, or 88 percent of all payments.

The lowest amount of tax on cryptocurrency mining was paid in February 2023 — 738,000 soms.

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