Ulaanbaatar
Budget Standing committee approves decreasing excise tax on imported alcohol and tobacco
PoliticsUlaanbaatar /MONTSAME/ The draft amendments to the Law o Customs, Customs Tariffs and Tax and on Excise Tax were discussed Wednesday at the meeting of the parliament Standing committee on budget. These laws are reqiered to be changed in light of the implementation of the Economic Partnership Agreement (EPA) with Japan.
As a member of the World Trade Organization, Mongolia is obligated to decrease the excise tax, imposed on imported alcohol and tobacco, to the same amount of that imposed on the similar domestic products.
Meanwhile, the excise tax has been enhanced up to 40 percent on the imported goods with a purpose to promote the national industries.
At this meeting, L.Erdenechimeg suggested making slight reduction in the excise tax on the imported alcohol and a slight increase in the excise tax on the domestic products, whereas D.Demberel wants the excise tax on the domestic alcohol and tobacco products increase, so that the import excise tax can remain on the current level.
Both suggestions were not supported. Then, L.Erdenechimeg made another suggestion--to designate different amounts of excise tax regarding the alcohol percentage and characteristics of the alcohol and tobacco products. It was not backed either.
At the end of the meeting, Minister of Industry D.Erdenebat said that the draft amendments to these laws have been prepared on the basis of careful studies.
The committee resolved to submit to parliament the draft amendments without any further recommendations and re-adjustments.
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