Kazakhstan Agency for Countering Economic and Corruption Crimes (Financial Police) proposed to ban cash withdrawal for legal entities.
"We suggest to ban legal entities from encashment of monetary assets. Such a rule is practiced in Ukraine, where all citizens and legal entities are required to make all purchases and settlements in non-cash form," said Deputy Chairman of Finpol Marat Akhmetzhanov.
Citing National Bank he said in the first half year KZT968bn was cashed out in the country and the figure is monthly growing.
"We all well understand that such huge cash is usually used for kickbacks and to avoid tax payments as well as other mandatory payments to budget", he added.
He noted that European countries widely utilize the practice of banning encashment for legal entities, particularly Italy and Spain:
"In light of global crisis, European countries are taking active measures to hardly limit cash cycle. In late 2011, the Italian government limited settlements in cash to 1,000 euros, aiming better tax collection," he emphasized.
However, Mr Akhmetzhanov did not voice a proposed boundary for cash-out limitation.
WKT citing Zona.kz