The Ministry of Economy and Commerce proposes to extend the campaign for the legalization of assets until December 31. This was announced today at a briefing by the head of the tax policy department of the Ministry of Economy and Commerce, Kubanychbek Isabekov.
According to him, the Ministry of Economy, together with other interested government bodies, has already developed a corresponding draft law. It is worth noting that according to the current document, the campaign is supposed to end on June 9.
Isabekov noted that comprehensive work is currently underway to create mechanisms for the full traceability of economic activities. Favorable conditions are being created for entrepreneurs to operate. However, there is still a previous period when many of them received income but did not declare it. Currently, entrepreneurs have finances or assets that are registered under other individuals.
"The legalization campaign is an important step in tax reforms, where, on the one hand, conditions are created for legal work and loopholes are closed, and on the other hand, the opportunity to legalize previous assets is provided. In addition, we are actively investigating transactions involving assets for which taxes should have been paid. Perhaps some government agencies missed something, and the transaction was four or five years ago. If we now tell citizens that they have to pay taxes, there will be dissatisfaction. To prevent this, we also offer these citizens to go through legalization. This will allow the population to bring movable and immovable property, money, and other assets out of the shadows. The authorities guarantee that no one will be prosecuted for assets obtained illegally. However, there are exceptions, such as terrorism and human trafficking. It is also proposed to include a provision allowing private notaries to certify a special declaration," said the Deputy Minister of Economy.
