There is no benefit for Kazakhstan from planned property legalization - Majilis deputies

Date: 03:24, 22-05-2014.

Astana. May 22. KazTAG - The Ministry of Finance has presented the draft law on amnesty in connection with property legalization.

"Which economic benefit will get our state if our people legalize the property located outside the country? If one legalized will he pay taxes here? Most likely not, because the property is located abroad. My question is: which economic benefit will this action bring?" Askhat Bekenov, Majilis deputy, addressed a question to Ardak Tengebvayev, Vice Minister of Finance.

The deputy head of Finance Ministry said in respect of houses and property abroad, "it's worth not forgetting that this legalization will be conducted on the threshold of general declaration".

"I am talking about general declaration. People will have to show all the property inside and outside the country. This legalization will be held on the threshold of general declaration. We give people a chance to show all their property," he added.

As reported Nursultan Nazarbayev, President of Kazakhstan, ordered to prepare a draft law on property amnesty until June 1 2014.

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