10 сентября 2015 17:50

Introduction of across-the-board income and property reporting postponed in Kazakhstan


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Introduction of across-the-board income and property reporting has been postponed till 2020 in Kazakhstan, Tengrinews reports.

Introduction of across-the-board income and property reporting has been postponed till 2020 in Kazakhstan, Tengrinews reports.

The bill on the across-the-board  reporting locally known as "universal declaration" of income and property was introduced back in 2013. The first stage requiring public officials and employees of national companies or any state-funded organizations to report on their incomes and property was to be set in motion in 2015. Kazakhstan expected to achieve an at least 10% increase in the state budget tax revenues as a result.

However, during the presentation of the bill, Kazakh Minister of Finance Bakhyt Sultanov said that the first stage of the project would be postponed till 2017. The second step introducing across-the-board reporting for all the Kazakhstanis over 18 y.o. was moved to 2020.

Gulnar Setmagambetova, a lawmaker from the Majilis of the Parliament (the lower Chamber) asked the Minister of Finance about the reasons for the postponement. 

"We are implementing this project stage by stage. The project is coordinated with the anticorruption program. That is why citizens of the mentioned categories will be the target of the pilot (first)  stage. Then we are planning to expand the list," Minister Sultanov said.

The bill requires all the full legal age citizens of Kazakhstan, oralmans (ethnic Kazakhs returning to Kazakhstan ) and individuals with permanent residence, underage persons owning property to regularly report on their incomes and property. In addition, underage person who own money savings in banks accounts exceeding 3-4 million tenge ($12-16 thousand) or have an income will also be involved in the reporting. The responsibility for their reporting will be vested on their official representatives, like parents or lawyers. Foreigners will be subject to the reporting in case they own property that is subject to registration in Kazakhstan.

"Unfortunately, the current system of administration in the Republic of Kazakhstan does not allow effective control of income sources and property of all the individuals. As you know, only public officials, lawmakers and judges are required to submit income and property reports now. That is where the decision to introduce across-the-board reporting of income and property comes from," Sultanov said.

The across-the-board reporting is among the goals set forth by President Nursultan Nazarbayev in the 100 Concrete Steps program.

Reporting by Renat Tashkinbayev, writing by Gyuzel Kamalova, editing by Tatyana Kuzmina

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