On June 20, President of Kyrgyzstan Sadyr Japarov signed the Law On voluntary legalisation and amnesty of assets of individuals, the main purpose of which is to attract property and incomes of individuals into legal economic turnover, the press office of the President of Kyrgyzstan reported to CentralAsia.news.
The Government can attract the property of citizens by creating an effective legal mechanism for legalisation through the voluntary declaration by individuals of their assets, increasing domestic and foreign investment in the national economy, reducing the share of the shadow economy, securing assets and protecting their owners from prosecution by government agencies for non-compliance with the requirements of the legislation which were in effect before voluntary declaration of assets came into force.
It was noted that the Law will not interfere with the implementation of international and national regulations on combating the financing of terrorism and money laundering, including international and interagency cooperation in this area.
