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Cryptocurrency mining tax revenues increase by 414,000 soms

In November, budget revenues from the payment of tax on cryptocurrency mining amounted to 7,640.6 million soms. The report of the Ministry of Finance on budget execution says.

During the month the indicator increased by 414,000 soms. The largest amount of receipts since the beginning of the year was in August — 11.6 million. Earlier, a high level of transfers of tax on mining was registered in June (10,544.3 million soms) and July (10,414.8 million soms).

In total for 11 months the treasury was replenished by this tax by 78,639.2 million soms.

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

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

Earlier, Energy Minister Taalaibek Ibraev said that cryptocurrency mining farms in Kyrgyzstan belong to the owners of small hydroelectric power stations.

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