Government Considers Draft Law on Repatriation of Illegally Withdrawn Assets

ASTANA – The Kazakh government hosted a economic policy council meeting to discuss the draft law on the repatriation of illegally withdrawn assets, reported the Prime Minister’s office on Jan. 25.

Photo credit: pixabay

The law contains rules designed to eliminate the conditions for the illegal withdrawal of assets, stimulate voluntary returns or initiate forced returns, among other provisions.

Based on the analysis results, a limited register of persons who need to submit a special declaration of assets will be prepared as well. If the owner of the assets fails to confirm their origin, they will be recognized as unlawfully acquired and subject to recovery processes by the state.

The returned assets will be used to finance projects that improve the welfare of people.

Get The Astana Times stories sent directly to you! Sign up via the website or subscribe to our Twitter, Facebook, Instagram, Telegram, YouTube and Tiktok!