Legalization has finished. Control over income of Kazakhstani residents will remain
The fiscal body assured that checks will not be universal
Trillion indicators, the geography - the two most vivid impressions of the outcome of the legalization of capital and property, summing up today's session of the Government of Kazakhstan. As it was noted by Finance Minister Bakhyt Sultanov, over 140 thousand Kazakhstani residents took part in the campaign, 5.7 trillion tenge were legalized, 4.1 trillion tenge is cash and 1.6 trillion tenge is property. Legalized about 151 thousand. Of real estate, as well as 213 shares in legal entities. 11,821 accounts were opened for the legalization of money.
“5 trillion KZT assets were legalized within the country, 700 billion tenge of foreign assets, of which 614 billion tenge in cash, 70 billion tenge is property", - said the Minister of Finance. The Ministry of Finance called Almaty the Champion by the volume of legalization, 3 trillion 981 billion tenge were legalized here, Astana - 533 billion tenge and Almaty region - 390 billion tenge.
The geographical map of countries from which our compatriots brought "out of the shadows" money and property is quite. In total 32 countries - Armenia, Austria, Bulgaria, Belize, Britain, Hungary, the Virgin Islands, Germany, Hong Kong, Georgia, Spain, Italy, China, Cyprus, Kyrgyzstan, Latvia, Liechtenstein, Lithuania, UAE, Russia, the USA, Singapore, Thailand, Turkey, Turkmenistan, Uzbekistan, Czech Republic, Switzerland, Ukraine, France, Japan, South Korea.
Bakhyt Sultanov noted that out of 151 thousand legalized real estate in the Republic of Kazakhstan, 9.5 thousand are objects put on the account as a commercial property. As a result, "the property tax increases to 800 million tenge per year". In addition, involvement in the legal turnover of 4.1 trillion tenge of money "generates an estimated 150 billion tenge of taxes per year". "It's estimated potential. Trillions of funds were put in the economy. This has created additional consumer or investment demand. They supported the country's GDP, they pay taxes with it ", - stated the Minister. According to the finance minister, 1.9 trillion tenge remain on the bank accounts, and in the ministry believes that "it will be an additional source of funding of banks and lending to the economy". "2.2 trillion tenge of legalized money were withdrawn from the bank accounts by citizens. They also went to investment, consumption or savings. 1.6 trillion tenge of legalized real estate - is a potential collateral for loans, "- said Bakhyt Sultanov.
Announcing the work in post legalization period, the Minister of Finance called it the most important for the future so "money do not remain" under the pillow", but work for the economy".
"First of all, first of all, is the provision of guarantees provided by law. All exceptions, non-accountability rules must be adhered by tax and other interested bodies", - said the Minister.
At the same time, the finance minister said that further control of "global" income and property of citizens, including foreign jurisdiction" will continue. "We have repeatedly stated this, and we have a number of control mechanisms. Since the beginning of this year came into force the law on compulsory tax declaration of all overseas property", - reminded Bakhyt Sultanov. The minister said that "the current legislation requires citizens to declare in Kazakhstan income derived from foreign sources". As an example, Bakhyt Sultanov called the figures of 2015, when Kazakhstan declared international "global" income in the amount of 700 million USD. "The application of Ratified Tax Conventions will also be a good tool", - summed up Bakhyt Sultanov.
Zhanar Serdalina
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