Economic amnesty is conducted for the 5th time, previous ones were unsuccessful

AKIPRESS.COM - Economic amnesty is conducted for the 5th time, said professor Arzybek Kojoshev. There were attempts to declare such tax amnesties in 2005, 2007, 2010 and 2013, but they were not successful.
"The first four were unsuccessful at all. The last attempt was in 2013 on behalf of the Government of the Kyrgyz Republic, and the budget received 38 million soms. But the issue did not proceed further, because several subjects were prosecuted, criminal cases were opened. After that, the entrepreneurs did not believe and stopped returning assets," he said.
Acting President, Prime Minister of Kyrgyzstan Sadyr Japarov announced a 30-day economic amnesty on October 21. Japarov called on everyone hiding illegal proceeds to give up on their wealth within 30 days.
The purpose of the economic amnesty is to supplement the state budget, return capital previously withdrawn offshore back to Kyrgyzstan, legalize the shadow resources, create equal conditions for all business entities, achieve positive macroeconomic indicators, find the necessary funds to support the country's economy in the shortest possible time, pay off country's foreign debt.
Japarov guaranteed confidentiality and exemption from all forms of punishment for voluntary legalization of illegal proceeds.