Imported electric power might be freed from taxes

2015-10-14 14:22:17

Ulaanbaatar /MONTSAME/ L.Purevsuren FM submitted a bill on granting imported electric power an exemption from customs and value-added taxes to the Vice Speaker R.Gonchigdorj.

The FM said that in 2014, a “Western region energy system” state-owned company accumulated revenue of 14.538 billion Togrog (USD 7.291 million), was granted 7.0 billion Togrog of government incentives, and spent 18.396 billion, which left the company in balance deficit of 3.857 billion. The company was in deficit of 0.9 billion in 2012, of 3.7 billion in 2013, and in 3.9 billion in 2014, he went on, and is expected to see pre-estimated deficit of 4.1 billion MNT this year according to the 2015 business plan.

The parliament's Standing committee on economy issued a resolution last February regarding the implementation of measures towards the energy and petroleum spheres, and directed the authorities to exempt customs and value-added taxes from imported electric power from China and Russia to the “Western region energy system”. "The cabinet discussed this resolutionn and resolved that a buill on this issue is to be sent to parliament, " he said.