Offshore zone may appear in Kazakhstan
An offshore zone may be created in Kazakhstan to attract capital.
Kazakh MP Tursunbek Omurzakov made the relevant proposal to
Kazakh Economy and Budget Planning Minister Erbolat Dosayev at the
Majilis session on February 19.
"Now a number of special economic zones operate in Kazakhstan.
Perhaps we should consider creation of own offshore zone,"
Omurzakov said.
He pointed out that Russia plans to create an offshore zone in its
eastern region and warned that Kazakh capital will move to this
zone as there will be no restriction within the Customs Union.
"In future, offshore zones can be a key tool in attracting
capital", Omurzakov said, adding that
huge funds leave Kazakhstan through offshore zones.
"Kazakhstan invested $3.6 billion in the Virgin Islands, $2.6
billion in the Seychelles Islands, and $1.9 billion in Cyprus. We
should work with such countries: sign agreements and exchange tax
information," he said.
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