Assets Disclosure by Public Officials: Declaration Content

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Albania

What kind of / value of assets must be declared?

Listed in Article 4, items to be declared include (1) immovable properties and real rights over them; (2) movable properties that can be registered in public registers; (3) things of special value over $5000; (4) the value of shares, securities, and part of capital owned; (5) the value of liquidities, the condition in cash, in revolving accounts, in deposits, treasury bonds as well as loans, in lek and foreign currency; (6) financial obligations to natural and juridicial persons, expressed in lek or in foreign currency; (7) personal income for the year, from salary or participation on boards, commisions or any other activity that brigs personal income; (8) licenses and patents that brings income.

Is it necessary to include family members’ assets as well?

Article 21 requires that the declaration include the assets of the official as well as his family (spouse and grown children).

Bangladesh

What kind of / value of assets must be declared?

All immovable and movable properties. Includes shares, certificates, securities, insurance policies and jewellery having value of Taka 10,000 or more. Before buying or selling movable or immovable property exceeding taka 15,000 in value

Is it necessary to include family members’ assets as well?

Yes

Brazil

What kind of / value of assets must be declared?

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Is it necessary to include family members’ assets as well?

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Ghana

What kind of / value of assets must be declared?

Properties subject to de3claration are listed in Section 4 of the law and include land, houses and buildings, farms, concessions, trust with beneficial interest, vehicles, plant or machinery, business interests, securities and back balances, bonds and treasuries

Is it necessary to include family members’ assets as well?

Not stated in the law, nor in the Declaration of Assets and Liability Form listed in Schedule 2 of the Law.

India

What kind of / value of assets must be declared?

This is described in Rule 16. Immovable property must be declared. Also, the employee must inform government before acquiring or disposing immovable property. Movable property items above Rs. 15,000 needs to be shown separately. Shares, postal deposits, etc.

Is it necessary to include family members’ assets as well?

Not stated. According to Rule 16, the officer is required to submit a return of assets held by him in the name of a family member.

Kenya

What kind of / value of assets must be declared?

This is detailed in the second schedule to the law. Income includes salary, emoluments and income from investments. Assets include land, building, vehicles, investments and financial obligations. Liabilities also need to be declared.

Is it necessary to include family members’ assets as well?

A separate statement is required for the officers and each spouse and child under 18 years of age.

Korea

What kind of / value of assets must be declared?

Car, cash more than US $500, jewelry, bonds, land, house, club memberships, real estate, stocks, ships, and boats.

Is it necessary to include family members’ assets as well?

With the 2001 amendment, all close family members were also included in the law and were required to file their declaration of assets. Korea has a national registry of unique identifying numbers (similar to the SSN in the United States). This makes it easy

Latvia

What kind of / value of assets must be declared?

This is described in Section 24 and includes immovable property, vehicles, cash and non-cash savings and debts if the amount exceeds twenty months' wages.

Is it necessary to include family members’ assets as well?

Assets of spouse and children are not required to be declared.

Mexico

What kind of / value of assets must be declared?

The first declaration must list all real estate property with date and value of purchase. In case of personal property, the Secretariat will determine the details (Art. 39). DeclaraNET states that all personal property, vehicles, investments, stocks, and

Is it necessary to include family members’ assets as well?

It must include the assets of the spouse and direct economic dependants (Art. 44).

Nigeria

What kind of / value of assets must be declared?

Section 11(b) of the schedule mentions that properties, assets, and liabilities need to be declared but provides no further details.

Is it necessary to include family members’ assets as well?

The spouse's assets need not be declared but assets of the officer's unmarried children under the age of eighteen years need to be declared.

Philippines

What kind of / value of assets must be declared?

Officials are required to file 2 declarations: Statement of Assets, Liabilities, and Net Worth; and Disclosure of Business Interests and Financial Connections. The two documents shall contain information on real property, personal property, all other assets

Is it necessary to include family members’ assets as well?

The interests of spouses and of unmarried children under eighteen years of age living in their households must also be filed.

Romania

What kind of / value of assets must be declared?

Officials need to declare property in possession, i.e., land, building; dwelling premises, apartment, house, holiday house, commercial and production premises; movable assets such as motor vehicles; deposits in foreign or national currency at home or abroad (more than 10,000 euro); claims (more than 10,000 euro); bonds (more than 10,000 euro); other assets generating net income (more than 10,000 euro); associate or shareholder with commercial companies (more than 10,000 euro); other profit making activities (more than 10,000 euro); and the goods and services received free as part of protocol activities (more than 300 euro)

Is it necessary to include family members’ assets as well?

Article 38 (14): For the purposes of the property statement, family means the husband, wife, and the children being provided for.

Sri Lanka

What kind of / value of assets must be declared?

Declarable items are not separately listed in the law, but Section 10 authorizes the Minister to make regulations to carry out the provisions of the law.

Is it necessary to include family members’ assets as well?

Section 3 of the law requires the assets or liabilities of the officer, spouse and each child should be separately declared.

Tanzania

What kind of / value of assets must be declared?

Declarable assets are listed in Section 11 and include cash and bank deposits, treasury bills, dividends and profits from stocks and shares, farms, real estate etc. Recreational property, motor vehicles, residences, recreational property are separately list

Is it necessary to include family members’ assets as well?

Property of spouse and unmarried children has to be declared Section 9 (1) (d), but matrimonial property is not required to be declared Section 9(3).

Thailand

What kind of / value of assets must be declared?

Chapter III describes declarations by persons holding political positions (in Part I) and by State Officials (in Part II). The law does not list items that must be included in the declarations. The difference in declarations by political and state official

Is it necessary to include family members’ assets as well?

Yes.

Turkey

What kind of / value of assets must be declared?

According to the Section 3, Article (8), all immovable and movable properties must be declared. Includes shares, certificates, securities, insurance policies and jewellery having value of five times the value of monthly net salary (or if not paid monthly then, more than the value of monthly net salary of a 1st grade department head)

Is it necessary to include family members’ assets as well?

Yes. Section 2 Article (4) requires that the declaration includes the assets of the official as well as his family (spouse and grown children). If both husband and wife are covered by this Act, then each one of them have to declare their assets and liabilities.

Uganda

What kind of / value of assets must be declared?

The Declaration of Income, Asset and Liabilities form that accompanies the Leadership Code Act of 2002 provides the details. Income includes cash in bank or financial institution within the country of abroad, and treasury bill or investment in securities.

Is it necessary to include family members’ assets as well?

Spouses' and children's income and assets have to be declared separately.

USA

What kind of / value of assets must be declared?

Section 102, "Contents of reports," provides the details: anything more than $200 from any source (other than from current employment by the U.S. government).

Is it necessary to include family members’ assets as well?

Section 102 (a) 3, 4, 5(A); (e) 1, 2 income and assets have to be declared for the spouse (unless living separate and apart from the reporting individual) and dependent children