Uzbekistan has formally launched Besqala Mining Valley, described as the country’s first tax-exempt crypto mining zone. Under the framework cited in the report, miners operating in the zone can receive tax exemptions lasting until 2035. The arrangement does not remove all operating charges, however. Companies in the area must still pay a 1% revenue fee and cover electricity costs at twice the standard power tariff. The related legislation was signed in April this year. The update was reported by Cointelegraph and relayed by Odaily.
Uzbekistan has officially launched Besqala Mining Valley, the country’s first tax-exempt crypto mining zone.
Miners operating in the area will be eligible for tax exemptions through 2035. At the same time, they must pay a 1% revenue fee and purchase electricity at twice the standard tariff.
The related bill was signed in April this year, according to Cointelegraph.
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