The government of Kazakhstan has created a commission to return money illegally withdrawn from the country, transmits Kazakh service of Radio Liberty. The order was signed by the Prime Minister of Kazakhstan Alikhan Smailov.
“These working groups are analyzing the outflow of funds, developing appropriate proposals to stimulate the return of capital to the country from abroad, the introduction of restrictive measures, and the adoption of measures to return the withdrawn capital,” the government’s website said in a statement.
As an incentive measure, the Cabinet of Ministers proposes to reimburse VAT in a simplified manner, subject to 80 percent conversion of foreign exchange earnings received. Such restrictive measures are being considered as the abolition of tax benefits when paying dividends to non-residents, the introduction of a limitation on deductions for intangible services provided by related non-resident persons.
When asked whether the commission would consider the issue of funds transferred abroad by the family of former President Nursultan Nazarbayev, Deputy Prime Minister Yerulan Zhamaubayev and Minister of Economy Alibek Kuantirov did not give a clear answer. According to them, all the circumstances will be established by the commission and studied by law enforcement agencies.
The President of Kazakhstan, Kassym-Jomart Tokayev, at a government meeting on February 7, announced the need to return funds illegally withdrawn abroad to the country. However, he did not provide any further details. A few days earlier, a deputy from the Ak Zhol faction, Maksat Ramankulov, referring to data from the Tax justice network, said that over the past 25 years, about $140-160 billion. Experts believe that the amount of funds illegally withdrawn from the country is twice as much, Radio Azattyk writes.