Finance Ministry: Legalized money adds KZT150B to budget

ASTANA. KAZINFORM The tax revenues obtained within the recent legalization campaign make KZT150 billion of the national budget every year, Kazinform correspondent reports with reference to the Deputy Minister of Finance of Kazakhstan, Ruslan Beketayev.

"Within the framework of the Nation Plan's third line 'Industrialization and Economic Growth', in 2016, we successfully completed the procedure of property and money legalization. Over 140,000 citizens have succeeded to take advantage of the legalization that brought KZT5.7tn, including 4.1tn of cash and 1.6t, to the economy. KZT4.1 trillion of cash involved in the legal turnover is estimated to generate KZT150 billion of taxes p.a.," he told a briefing in the Government today.

According to him, 9,500 of 151,000 legalized real estate assets have been registered as commercial property. This increases the property tax income by nearly KZT800 million a year.