Kazakhstan Crypto Tax Guide

Legal Status of Crypto in Kazakhstan

Cryptocurrency in Kazakhstan is not legal tender but is recognised as an asset class under the Law on Digital Assets (June 2023). The legal framework distinguishes between digital assets (cryptocurrencies, tokens) and digital mining. Key regulatory bodies include the Astana Financial Services Authority (AFSA) for AIFC-based activities and the National Bank of Kazakhstan for monetary policy aspects. Mining is legal but regulated, with miners required to register with the State Revenue Committee. Crypto exchanges and trading platforms must be licensed under the AIFC regulatory framework to serve Kazakh residents.

Digital Mining Tax — ҚжС

Kazakhstan imposes a specific Digital Mining Tax (Қазынаға жинақталған салық / ҚжС) on cryptocurrency mining activities. Key features:

• Tax base: The value of mined cryptocurrency, calculated at the average exchange rate for the reporting period
• Rate: 1 tenge per kilowatt-hour (kWh) of electricity consumed for mining operations (increased from initial 0.5 tenge/kWh)
• Total tax burden: The mining tax plus standard CIT (20%) on profits from the sale of mined crypto
• Registration: All mining operations must register with the State Revenue Committee and report electricity consumption
• Seasonal restrictions: Mining may be restricted during peak electricity demand periods (winter months) for energy security reasons

The mining tax has been a significant revenue source for Kazakhstan, which became one of the world's largest Bitcoin mining hubs after China's 2021 crackdown.

Taxation of Crypto Gains — Treated as Property

Kazakhstan treats cryptocurrency as property for tax purposes. The tax treatment depends on the nature of the activity:

• Individuals — investment gains: Gains from the sale of crypto held as an investment are treated as capital gains and taxed at 10% IIT. The gain is calculated as the sale value minus the acquisition cost in KZT at the time of purchase.
• Individuals — frequent trading: If crypto trading is frequent and systematic, the gains may be treated as business income, also taxed at 10% IIT (or 3% under the simplified regime for sole proprietors).
• Companies: Crypto gains are included in ordinary taxable income and taxed at 20% CIT.
• Mining income: Subject to the Digital Mining Tax plus standard CIT/IIT on profits from sale.
• Payment in crypto: The KZT value of crypto received as payment for goods or services is treated as ordinary income at the fair market value on the date of receipt.

AIFC Regulatory Framework

The Astana International Financial Centre (AIFC) provides a comprehensive regulatory framework for digital assets under the Astana Financial Services Authority (AFSA). AIFC-based digital asset platforms may offer:

• Crypto exchange services: Trading of digital assets against fiat currency and other digital assets
• Custody services: Secure storage of digital assets
• Token issuance: Initial Exchange Offerings (IEOs) and security token offerings under the AIFC regulatory framework
• DeFi services: Limited decentralised finance activities under AIFC sandbox

AIFC participants benefit from a common law legal framework, tax exemptions on certain types of income, and streamlined registration processes. The AIFC tax regime includes exemptions on income from digital asset trading activities for a defined period.

Record-Keeping Requirements

Taxpayers engaged in crypto activities must maintain detailed records to support their tax filings. Recommended records include:

• Transaction dates, amounts in crypto and KZT/USD, exchange rates at each transaction
• Wallet addresses and exchange account statements
• Platform trading history and fee records
• Records of crypto-to-crypto trades (these are taxable events)
• Bank statements showing deposits/withdrawals linked to crypto platforms
• Mining records including electricity consumption and equipment costs

Records must be retained for at least 5 years. Failure to maintain adequate records may result in the tax authority estimating the tax liability, often at unfavourable rates.

FAQs

Is crypto legal in Kazakhstan?

Yes, cryptocurrency is legal in Kazakhstan. Mining and trading are regulated activities. Mining requires registration and payment of the Digital Mining Tax. Crypto exchanges must be licensed under the AIFC framework to serve Kazakh residents.

Do I pay tax on crypto-to-crypto trades?

Yes, crypto-to-crypto trades are taxable events in Kazakhstan's view. The gain is calculated as the difference between the fair market value of the crypto received and the cost basis of the crypto disposed of, both valued in KZT at the time of transaction.

Is there VAT on crypto transactions?

The exchange of crypto for fiat currency is generally treated as a financial service and may be exempt from VAT. Crypto used to pay for goods and services is subject to VAT on the value of the underlying goods/services at 12%. Mining services are subject to VAT at 12% if the miner is VAT-registered.

Disclaimer

This guide provides general information about cryptocurrency taxation in Kazakhstan for the 2026 tax year. The regulatory and tax landscape for crypto in Kazakhstan is evolving. Always consult with a qualified Kazakh tax advisor or the State Revenue Committee for advice specific to your situation. InvestmentKit does not provide tax advice.