LAW OF THE KYRGYZ REPUBLIC

of July 27, 2009 No. 254

About legalization of property, not declared tax and customs liabilities

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 25, 2009

This Law governs the relations connected with legalization of property and also the relations connected with release of persons legalizing the property from responsibility for the committed tax, customs, administrative, criminal and other offenses provided by this Law.

Article 1. Law purposes

The purposes of this Law are attraction of property in legal economic circulation, establishment of guarantees of immunity of legalizuyemy property, guarantees of immunity of persons participating in process of legalization of property and observance of mystery of process of legalization of property.

Article 2. The basic concepts used in this Law

In this Law the following basic concepts are used:

Legalization of property - the actions connected with voluntary declaring of the rights to property, removed from legal economic circulation for the purpose of the concealment of the income and (or) which is not drawn up according to the legislation of the Kyrgyz Republic or drawn up on inadequate person.

Subjects of legalization of property (further - subjects of legalization) physical persons - the citizens and legal entities of the Kyrgyz Republic (except for the state companies, the organizations and organizations) legalizing property according to the procedure, established by this Law. Persons find the status of subjects of legalization from the date of submission of the voluntary declaration on legalization in authorized state body.

Objects of legalization - the personal and real estate which is both in the territory of the Kyrgyz Republic, and beyond its limits, earlier not declared according to the procedure, established by the legislation of the Kyrgyz Republic.

Personal estate - money (in national and foreign currency), vehicles, shares of participation of the subject of legalization in the companies, securities, assets of legal entities.

Real estate (real estate) - the real estate determined according to the Civil code of the Kyrgyz Republic.

Authorized state body - the State committee of the Kyrgyz Republic on taxes and fees accepting and processing documents on legalization of property according to the procedure, provided by this Law.

Legalization term - the term provided by this Law in the period of which citizens and legal entities of the Kyrgyz Republic can address to authorized state body.

The declaration on legalization - the document confirming the legalization fact in the forms approved by the Government of the Kyrgyz Republic.

Article 3. Coverage of this Law

Operation of this Law extends to legalization subjects, the property belonging to them being both in the territory of the Kyrgyz Republic and beyond its limits: not drawn up according to the procedure, determined by the legislation of the Kyrgyz Republic; removed from economic circulation, drawn up on other person.

Operation of this Law does not extend to property of persons who received as a result of making of crimes against the personality, the world and safety of mankind, bases of the constitutional system and safety of the state, public safety and public order and also property, the right to which is challenged judicially.

Article 4. State guarantees to subjects of legalization

1. Subjects of legalization are exempted from liability for the offenses made during the period till December 31, 2008 provided:

1) Articles 180, 182, 200, 201, 202-1, part of 1 Article 204, Articles 208 - 215, 307, 309 and 314 Criminal codes of the Kyrgyz Republic;

2) Chapters 9-1, 22, 23, 24, 24-1, 25, 26, 35, 35-3 Codes about the administrative responsibility of the Kyrgyz Republic;

3) the tax, customs legislation, and also the legislation on the national social insurance.

2. Subjects of legalization - physical persons are exempted from liability for offenses, stipulated in Item 1 parts of 1 this Article.

Subjects of legalization - legal entities are exempted from liability on the offenses provided in Items 2 and 3 of part of 1 this Article.

At the same time officials of subjects of legalization - legal entities cannot be made responsible on offenses, stipulated in Item 1 part of 1 this Article.

3. During the period and after legalization of property carrying out any kinds of checks concerning financial and economic activities of subjects of legalization for the period till December 31, 2008 is forbidden.

4. During legalization of property the moratorium on carrying out any kinds of checks is imposed.

5. Upon termination of the period of legalization carrying out any kinds of checks concerning legalized property, legal proceedings, including on implementation of criminal prosecution or application of measures of administrative punishment, based on information obtained in the course of carrying out legalization of property according to this Law is forbidden.

6. The authorized state body and other participants of process of legalization shall provide confidentiality of information obtained in the course of carrying out legalization of property.

7. Upon completion of process of legalization upon the demand of the subject of legalization the authorized state body shall destroy all earlier submitted tax declarations of subjects of legalization in the presence of the subject of legalization.

8. The state guarantees to subjects of legalization:

1) release according to provisions of this Law from provision of information on sources of origin of legalizuyemy property;

2) ensuring confidentiality (secret) concerning subjects of legalization of property by all participants of process of legalization;

3) non-use subsequently discriminatory measures concerning the taxation of subjects of legalization;

4) submission by authorized state body of data on transactions on legalization of property only to courts.

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