Kyrgyzstan plans to tax $1 million in cryptocurrency mining in 2023
The Kyrgyzstan government plans to raise over $1 million through taxation of the cryptocurrency mining industry this year (2023). The country's Ministry of Finance reported that they have already collected $900,000 worth of taxes from cryptocurrency miners in the first 11 months of 2023. In August, miners paid over $132,000 in taxes to the state government. Data from the Kyrgyzstan Ministry of Finance shows that cryptocurrency mining activity in the country has been increasing. The report notes that mining-related tax revenue began to grow actively in the second quarter of this year. Tax revenue in February was close to $8,300, and income in April rose rapidly.
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