Astana, Kazakhstan, April 14
By Daniyar Mukhtarov - Trend:
The legalization of property in Kazakhstan will take place in the period from 2014 to 2015, Kazakh Deputy Prime Minister and Finance Minister, Bakhyt Sultanov said on April 14 at a briefing at the Central Communications Service under the country's president.
"Alongside with property, money will also be legalized. The property legalization will be conducted similarly to the legalization of legislation in 2006. Around 840 billion tenge was legalized [$1=182.02 tenge] that time. The feature of the legalization conducted from 2006 to 2007 was the collection of taxes for legalization in the amount of 10 percent. The budget received as much as 60 billion tenge as a result of this action," the minister said.
"If the money owner doesn't want to keep his funds in the account, then he can invest this money in the economy by purchasing state securities, bonds of second tier banks and shares within an IPO," Sultanov added.
Kazakh President Nursultan Nazarbayev ordered to work out the draft law on capital amnesty till June 1, 2014 at the country's National Investors Council.
Translated by L.Z.
Edited by C.N.