Astana, Kazakhstan, Sept. 5
By Daniar Mukhtarov - Trend:
Some 232 people have submitted their applications since the start of the property and money legalization in Kazakhstan, Deputy Finance Minister of Kazakhstan Ardak Tengebaev said Sept. 5 at a press conference.
"According to our data, over the past few days (from Sept. 1, 2014) 21 people submitted applications to the commissions at the city halls of Akmola Province, 141 people - in the city halls of Astana and 70 people - in the city hall of Aktobe Province. The remaining data is still being collected," Tengebayev said.
"Tax authorities have not yet received applications for legalizing property abroad. So far people are asking for explanations," he added.
Tengebayev added that those who want to legalize their property and money need to submit applications and copies of their IDs to the commissions at the local city halls.
Special commissions were established at the city halls. To legalize property one needs to submit an expert assessment, and the property's registration certificate.
Tengebayev said that to legalize property outside Kazakhstan, it is necessary to contact the territorial tax authorities at the commission and submit the necessary package of documents.
"As for the legalization of money, it is needed to apply to the second-tier banks or Kazpost (postal operator) and pay a fee," Tengebayev said.
He noted that the main difference between the current legalization process and the previous ones lies in the fact that the money can be kept in the second-tier banks or at Kazpost for five years, receiving annual market compensation.
The "Law on amnesty to Kazakh citizens, repatriates and persons who have a residence permit in Kazakhstan, due to legalization of their property" came into force in Kazakhstan on September 1, 2014.
Earlier it was reported that the value of legalized property in Kazakhstan can exceed $10 billion.
In April 2014, the Kazakh President Nursultan Nazarbayev instructed to carry out a capital amnesty prior to introduction of a general income declaration on January 1, 2017.
Earlier it was reported that the certification will make it possible to inject additional funds in the Kazakh economy, including in its banking sector.
According to the certification procedure, approved by the law, Kazakh citizens will be able to deposit funds into special savings accounts in Kazakh banks, where they must be kept at least for five years. During this period their owners will get fees at market rates.
In case of early withdrawal of funds from the special savings account, the banks will withdraw a fee of 10 percent from the total amount in favor of the state.
Kazakh citizens legalizing money, have the right to invest in the country's economy by means of acquiring privatization objects, assets of the Samruk-Kazyna National Welfare Fund, shares within the "People's IPO" and through primary placement of state securities, bonds of national governing holdings, companies, development institutions, second-tier banks, as well as other securities placed on the Kazakh Stock Exchange.
A 10-percent fee will be charged in case of property legalization (aside from money), located outside of Kazakhstan.
Under the law, the legalization subjects are exempt from criminal and administrative liability on corresponding articles of the Criminal Code and the Code of Administrative Offences of Kazakhstan, as well as disciplinary liability for failure of submitting or submitting incomplete or inaccurate declarations and information.
Kazakhstan had previously held the legalization of capital twice: in 2001 and 2006-2007.
Edited by C.N.
