Tajikistan has extended an asset and money amnesty for one more year.
Tajikistan’s lower chamber (Majlisi Namoyandagon) of parliament last week endorsed a draft law on amendments made to the country’s law on amnesty allowing individuals to legalize their assets and money that had not been previously declared and illegal incomes.
Presenting the bill to lawmakers, the head of the National Bank of Tajikistan (NBT), Hokim Kholiqzoda, noted that the government had drafted the amendments, taking into consideration experience of other countries, according to the Majlisi Namoyandagon press center.
NBT head reportedly underlined that the asset and money amnesty was extended for one more year.
According to him, land plots and real estate in rural areas, which have been used for years without proper documentation, will also be subject to amnesty.
He also noted that the amendments also provide for eliminating legalization of precious metals and stones, empower the country’s citizens to legalize their funds and expanding additional government guarantees.
Recall, the Majlisi Namoyandagon on June 30 last year endorsed a draft law on amnesty allowing individuals to legalize their assets and money that had not been previously declared and illegal incomes.
The legalization of assets and money automatically exempts holders of such assets from administrative and criminal liability.
This law applies only to offences relating to misappropriating or embezzling the legalized assets and money.
This law provides for the simultaneous legalization of both assets and money
Tajikistan has some experience in carrying out such amnesties, which were announced in the country three times.
But the simultaneous legalization of both assets and money are carried out in Tajikistan for the first time.
The first such an action was carried out in 2003 to attract additional financing in the country’s economy. The law provided for legalization of money only and did not apply to assets.
In address to the parliament, President Emomali Rahmon noted in April 2004 that 190 million U.S. dollars owned by 18,000 people had been legalized in the framework of that one-time action.
The next such an action was carried out in 2008-2009 and it applied only to assets, which were illegally acquired or misappropriated.
As a result, more than 87,000 assets at a total cost of 19 billion somonis (equivalent to US$5 billion at the then exchange rate) had been legalized.
The third amnesty for legalized money was held in 2010-2011. The law that was passed at the time provided for legalization of money for purchase of shares of the Open Joint-Stock Company (OJSC) NBO Roghun, which was founded by the Government for completion of the construction of the Roghun hydroelectric power plant. The authorities opened special bank accounts for this.
The results of this amnesty were not made public. It is probably due to insignificant volume of the legalized funds.
