The Head of State proposed to introduce a tax on offshore

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Nursultan Nazarbayev suggested the global financial institutions to take measures on deoffshorization

The President of Kazakhstan Nursultan Nazarbayev proposed to introduce a tax on offshore and under the auspices of the UN to form a human capital development fund to improve the quality of education and health in the poorest countries.

"According to UNESCO, about 50 billion dollars a year is only required to provide universal basic education in the poorest countries. This problem can be solved only through joint efforts of the international community ", - stated Nursultan Nazarbayev.

The head of state believes that it is important that "income is reinvested in the development of education, health and infrastructure, and did not get transferred to the speculative financial instruments or settled in the offshore zones".

"Today according to the evaluation of world experts on offshore accounts there are 340 trillion USD. The introduction of at least 1% global tax on these assets would bring education and health in developing countries to a new level ", - said Nursultan Nazarbayev.

According to the President of Kazakhstan, this tax can be "sent to the above-mentioned human capital development fund".

"I think that the IMF, the World Bank would propose effective measures to deoffshorization of the global economy", - concluded the head of state.

Zhanar Serdalina