Please Add Widget from here
The Norwegian Tax Administration Proposes That Power Tax Sub...
Bitcoin News

The Norwegian Tax Administration Proposes That Power Tax Subsidy Be Removed For Bitcoin Miners

A local news agency, Aftenposten, recently reported that the Norwegian govt has stopped granting subsidies to bitcoin miners on electricity tax, saying that the new development will take effect as from early next year. That is to say, as from next year Bitcoin miners in Norway will have to pay normal tax on electricity.

Currently, Bitcoin Mining firms benefit from the same electricity tax discount as other big companies that uses electricity in the country but the government has come to a conclusion that clearly states they will not be able to continue providing discounts for bitcoin miners any longer.

A representative in the nation’s parliamentary board, Lars Haltbrekken, says:

Norway can not continue to provide huge tax incentives for the most dirty form of cryptographic output like bitcoin. It requires a lot of energy and generates large greenhouse gas emissions globally.

Now, the removal of subsidies on electricity tax implies that bitcoin miners should be ready to pay more on electricity tax or better still, evacuate the country if they feel they can’t leave up to the standard.

Comments are off this post!