The Ministry of Economy and Commerce of Kyrgyzstan proposes to extend the asset legalization campaign until December 31. Deputy Minister Kubanychbek Ysabekov announced at a briefing.
According to him, the Ministry of Economy, together with interested government agencies, has already developed a corresponding bill. According to the current document, the campaign should end on June 9.
Kubanychbek Ysabekov noted that comprehensive work is now underway to create mechanisms for full traceability of economic activities. Favorable working conditions for entrepreneurs are created. But at the same time, there is a past period when many of them received income, but did not show it. Now entrepreneurs have finances or property that is registered to other persons.
«The legalization campaign is an important step in tax reforms, when, on the one hand, conditions are created for legal work and loopholes are closed, and on the other hand, it makes it possible to legalize previous property. In addition, we are now actively working to study property transactions on which taxes should have been paid. Perhaps, the government agencies themselves missed something, and the deal was made four or five years ago. If citizens are now told that they must pay taxes, there will be discontent. To prevent this from happening, we also offer such citizens to undergo legalization. This will allow the population to bring movable and immovable property, money and other things out of the shadows. The authorities guarantee that they will not prosecute anyone for assets obtained illegally. But there are exceptions, such as terrorism and human trafficking. It is also proposed to establish a rule allowing a special declaration to be certified by private notaries,» the Deputy Minister of Economy said.
