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Kazakhstan carried out legalization twice

16 July, 2014 10:42
Legalization was held twice in Kazakhstan. Money legalization was held in 2001. Due to that legalization process more than 480 million dollars were legally circulated the press service of the Ministry of Finance .

Parallel with money, movable and real property has been legalized In period of 2006-2007 years.

The effect came to around 845 tenge or near 7 billion dollars, i.e. 8.3 percent of GDP that year. The peculiarity of the second legalization was a commission. about 60 billion tenge  were paid to the budget.

It should be noted the legalization is not a novelty in the world. Several European countries, a lot of the U.S. states conducted this action several times, as the problem of withdrawal of capital from the shadow is very relevant in the world. So, India conducted legalization five times, Portugal - 4 times, France, Austria, Ireland - 2 times, the U.S. (40 states) - 62 times, Italy - repeatedly.

As reported earlier the Law of Republic of Kazakhstan “On amnesty of citizens of Republic of Kazakhstan, repatriates and persons holding permanent resident card in Republic of Kazakhstan in connection with property legalization” signed  by President Nursultan Nazarbayev on June 30 this year is aimed at regulating the procedure and conditions of property legalization, including money previously deduced from legal economic circulation.

The law will come to force from September 1, 2014.