ID :
157808
Tue, 01/18/2011 - 22:05
Auther :
Shortlink :
http://m.oananews.org//node/157808
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S.BAYARTSOGT WANTS TO REDUCE VAT
Ulaanbaatar, Mongolia, /MONTSAME/ The Minister of Finance S.Bayartsogt submitted Tuesday a draft amendment to the law on value-added tax to the Speaker D.Demberel and asked him to have parliament discussed it as soon as possible.
The draft law is meant to exempt staples from the value-added tax so that the domestic production is supported. A new clause on names of the products, grown or processed in Mongolia such as grain, vegetables, potatoes, fruits, flour, meat and meat products and by-products, has been added.
If the law is amended as such, a tax pressure will decrease, competitiveness among farmers and flour producers will go up, and the nation will consume high quality but cheap foods.
B.Khuder
The draft law is meant to exempt staples from the value-added tax so that the domestic production is supported. A new clause on names of the products, grown or processed in Mongolia such as grain, vegetables, potatoes, fruits, flour, meat and meat products and by-products, has been added.
If the law is amended as such, a tax pressure will decrease, competitiveness among farmers and flour producers will go up, and the nation will consume high quality but cheap foods.
B.Khuder
