OREANDA-NEWS. May 23, 2014. Up to 2 trillion tenge will be taken out of the shadows in Kazakhstan as a result of the legalization of capital and property. It was announced by Vice Minister of Finance Ardak Tengebayev in the Majilis.

"We expect to receive up to two trillion tenge or approximately USD 12 billion," the Deputy Minister said submitting a draft law "On amnesty of Kazakhstan citizens, oralmans and persons who have a residence permit in the Republic of Kazakhstan, due to the legalization of their property" to Parliament.

The bill makes provisions for measures to further stimulate and attract additional funds into the economy, increase investment in the Republic of Kazakhstan, stabilize the balance of payments, reduce the "shadow" economy, he said. The legalization objects are money, securities, and interest in the authorized capital of the entity; buildings (facilities), land, real property located outside of Kazakhstan.

"There can be no legalization of property received as a result of certain crimes. For example, crimes against the person, constitutional and other rights and freedoms, foundations of the constitutional system and security of the state, as well as a result of corruption and other offenses and crimes against the interests of the public service," A. Tengebayev added.

Legalization of capital and property in Kazakhstan will be held from September 1, 2014 to December 31, 2015.