The Government intends to oblige the Kazakhstan people to declare their property located abroad. This was reported today by the Vice-Minister of Finance Mr. Ardak Tengebayev at the briefing held in the Central Communications Service (CCS), Zakon.kz informs.
“Nowadays the law does not require that a person having any real property abroad must inform the tax authorities, so nobody provides such information”, - Mr. Tengebayev said.
According to him, appropriate amendments have already been prepared.
“If we adopt this rule that people must declare and specify the property that is located abroad, then its concealment will be considered as a direct violation of the law. I believe that our citizens will not act like that”, - Mr. Tengebayev added.
The bill is titled "On introducing amendments to some legislative acts concerning legalization of property”. The Vice-Minister of Finance informed that, as soon as the Parliament begins to work, the bill will be presented to the deputies’ review.
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
CONFIDENTIALITY | LEGAL ASPECTS