Norway Prepares to Reverse Electricity Tax Cut for Cryptocurrency Miners
The Norwegian government is reviewing a proposal to abolish the policy of preferential tax treatment for data centers mining cryptocurrency with cheaper electricity. The executive power in Oslo says conditions have changed and the country needs the energy currently used by miners.
Norwegian authorities are on their way to scrap a tax cut that has been benefitting crypto mining businesses for years. They are proposing to get rid of the reduced electricity tax rate for data centers in the Nordic country, many of which are minting digital currencies. Power for data centers will thus be subject to the general electricity tax rate, the same that applies for other service industries, the government said in an announcement published this week.
Source
t.me/Mining_Crypto_Miner
