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Kazakh Senate Extends Property Amnesty Deadline

(RFE/RL) November 2, 2006 -- The upper chamber of the Kazakh parliament, the Senate, today voted to extend the deadline to legalize unregistered real estate and property to April 1, 2007.

The decision has to be approved by President Nursultan Nazarbaev, who on September 1 suggested himself that the deadline be extended.

It was originally due to expire on December 30 of this year.

Nazarbaev and his government hope the amnesty, which aims at putting a dent the shadow economy, will bring additional budget revenues of some $30 million.

Addressing a cabinet meeting on October 27, Deputy Prime Minister Karim Masimov said he regretted that only a few people had decided to take advantage of the proposed measure.

The Finance Ministry says that, as of today, the capital amnesty has brought the state only the equivalent of $2.2 million in revenues.

(Interfax-Kazakhstan, Kazakhstan Today)

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