140,000 people legalize hidden property in Kazakhstan
Baku, Azerbaijan, Jan. 10
By Elena Kosolapova – Trend:
As much as 140,000 people legalized their property within the national legalization program in Kazakhstan, Kazakh Finance Ministry said Jan. 10.
The legalization program was held in Kazakhstan from Sept. 1, 2014 to Dec. 31, 2016.
Within the legalization program the state recognizes the right of people for property or/and funds that have been hidden earlier.
Legalization worth 5.7 trillion tenges (330.54 tenges = $1) was conducted in Kazakhstan in the period of this program, including 4.1 trillion tenges in cash and 1.6 trillion tenges in assets.
Applicants legalized about 151,000 real estate objects and 213 shares in legal entities in this period. Moreover, 11,821 bank accounts were opened for money legalization.
Assets worth 5 trillion tenges were legalized in the country. Moreover assets worth 700 billion tenges were legalized abroad, including 614 billion tenges in cash and 70 billion tenges in property.
The Finance Ministry expects that property legalization will help to get rid of shadow economy and have positive effects on Kazakhstan’s economy.
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