Asset declaration set to begin next month State leaders, employees and their immediate family members will be required to declare their assets beginning next month, a senior official reported yesterday.
The Government's Inspection Authority has already completed drawing up the forms to be used for the declarations, in line with the new prime ministerial decree on asset declaration.
“We are about to print the forms for distribution. Declaration shouldn't be later than February,” said a senior official of the authority in charge of the declaration.
“The declarations shall begin with leaders and employees of central-level organisations before expanding to local organisations,” he explained.
The government issued the Prime Ministerial Decree on Asset Declaration on June 4, 2013 - the first-ever such regulation - which will come into effect on January 1, 2014, as a measure to stem corruption.
Under the decree, state enterprise employees and their close relatives will also be required to declare their assets.
High-ranking leaders, administrative-level officials and all state employees in the Party, government, Lao Front for National Construction and other mass organisations will be required to declare their assets, according to the decree.
The incomes and debts of the targeted groups will then be officially recorded, with the declarations required to e made every two years.
declared with the declaration is required to be made every two years. Employees of the state, state joint venture enterprises and state joint stock companies are also included in the new decree.
Also subject to the declaration are soldiers and police officers with a rank of second lieutenant or higher, as are officials in charge of economic and financial affairs.
The officials mentioned above must declare their assets, debts and incomes along with those of their wives or husbands and children as well as other people under their responsibility, the decree stipulates.
Assets required to be declared include land, houses, buildings and any vehicles or technical equipment being used for production operations.
The target groups must provide details of any financial assets worth 20 million kip or more, such as cash, gold, bonds, shares or money deposited in domestic and foreign financial institutions, as well as debts.
Salaries, supporting allowances, pensions and income generated from family businesses, business operations, the sale or lease of assets, rent, loans or interest will also be declared.
Gifts and prizes worth more than 5 million kip and income from service provision and intellectual services must also be declared, according to the decree.
Once a declaration is commenced, it must be completed within a one year time frame.
The Government Inspection Authority at various levels will be in charge of reviewing the biennial declarations.
New state employees will be required to declare their assets within 30 days of starting work, as will workers taking on new posts, finishing old posts or taking part in an election campaign.
Finally, state employees will need to declare their assets 30 days before they retire.
According to the decree, declaration documents will remain confidential. Individuals and organisations will not be permitted to use information contained in the documents, unless permitted by the heads of the concerned government inspection authorities.
State leaders, employees and their immediate family members will be required to declare their assets beginning next month, a senior official reported yesterday.??
The target groups must provide details of any financial assets worth 20 million kip or more, such as cash, gold, bonds, shares or money deposited in domestic and foreign financial institutions, as well as debts.
People can always declare their assets, but how could the government verify if someone lie about their true assets or earning or private bank accounts in a foreign country?
State leaders, employees and their immediate family members will be required to declare their assets beginning next month, a senior official reported yesterday.??
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