Thursday, June 14, 2012 -
Kyrgyz authorities said Thursday they will offer amnesty on undeclared material wealth held by individuals or business enterprises.
Under the amnesty policy, foreign and local citizens will be permitted to legalize capital funds held in the country by themselves or their relatives after making a declaration to the government, a senior minister told a business meeting.
"We want to reduce the size of the shadow economy in the country,” Deputy Prime Minister Djoomart Otorbaev said in the speech to a session of the Council for Business Development and Investment.
Details of the amnesty were not divulged in the government press report on the meeting.
The policy plan will also include a directive barring law enforcement bodies from investigating the origin of wealth declared within the amnesty, according to the official.
Otorbaev called the session to seek suggestions and ideas from the business community on how to formulate and regulate the amnesty process, according to the pro-government Kabar.kg news agency.