Kazakhstani expert proposed to conduct "offshore amnesty"

Date: 05:06, 20-05-2014.

Astana. May 20. KazTAG - Representative of public fund Kazakhstan Financial Integrity Center Asem Akkozha proposed to conduct "offshore amnesty" in Kazakhstan.

"In the context of this order (order of President Nursultan Nazarbayev on capital legalization-KazTAG) there is expediency of consideration of possible "offshore amnesty" in Kazakhstan, when businessmen will voluntarily return the profits sources to Kazakhstan and won't be prosecuted. It is necessary to create conditions when companies registered in offshore zones and founded by Kazakhstani individuals and legal entities might be reregistered in Kazakhstan," she said at the council on combating corruption and shade economy.

According to the expert stimulating measures are important for those who want to get back to the tax jurisdiction of Kazakhstan.

In her opinion this measure is timely in the light of Western states which can easily apply confiscation measures in respect of foreign capital, like, for example, in Cyprus.

"The experts are discussing adoption of uniform normative legal act in the form of law "On regulation of business activity through offshore zones" whose base point might be legalization of withdrawn capital and single tax amnesty. Those companies which withdraw money abroad mustn't enjoy state support, privileges, preferences, it is necessary to create conditions in which they won't reckon upon participation in state programs and getting public contracts," she concluded.

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