Ulaanbaatar
Finance Minister Ch.Khurelbaatar meets with members of AmCham
Economy
Ulaanbaatar /MONTSAME/ Minister of Finance and other officials of the Ministry of Finance participated in the monthly business meeting organized by American Chamber of Commerce in Mongolia (AmCham) on March 20.
At the meeting Finance Minister Ch.Khurelbaatar gave information on the amendments to the tax law, financial situation of Mongolia, perspectives and major works to be implemented to ensure economic growth.
“The proposed amendments to the package of taxation laws were worked out in consideration of the current economic situation and based on the advices of international financial organizations and the principles of creating favorable environment for investments, employment increase, integrated tax policy, support for exemplary taxpayers and tax evasion penalty. For the last 26 days, the Ministry of Finance received over 2000 suggestions and started the data processing with the help of professional organizations. The draft law is planned to be approved in July at the Parliament session” said Minister Ch.Khurelbaatar in his opening speech.
The Chairman of the AmCham Steve Potter expressed his appreciation to the Ministry of Finance for introducing tax reform projects to the public in a transparent and open manner. “AmCham Mongolia will promote the transparent tax environment and support the investment attracting policies for the business expansion of private entities. Although there is a need to improve the tax environment, it is important to balance the principles of sustainable development and investment. In order to support the implementation of the new tax regulation, AmCham Mongolia has created a working group jointly with the Business Council of Mongolia, National Mining Association, CEO club and will work to promote the private sector and business environment which is vital to the economic development,” he said.
At the meeting Finance Minister Ch.Khurelbaatar gave information on the amendments to the tax law, financial situation of Mongolia, perspectives and major works to be implemented to ensure economic growth.
“The proposed amendments to the package of taxation laws were worked out in consideration of the current economic situation and based on the advices of international financial organizations and the principles of creating favorable environment for investments, employment increase, integrated tax policy, support for exemplary taxpayers and tax evasion penalty. For the last 26 days, the Ministry of Finance received over 2000 suggestions and started the data processing with the help of professional organizations. The draft law is planned to be approved in July at the Parliament session” said Minister Ch.Khurelbaatar in his opening speech.
The Chairman of the AmCham Steve Potter expressed his appreciation to the Ministry of Finance for introducing tax reform projects to the public in a transparent and open manner. “AmCham Mongolia will promote the transparent tax environment and support the investment attracting policies for the business expansion of private entities. Although there is a need to improve the tax environment, it is important to balance the principles of sustainable development and investment. In order to support the implementation of the new tax regulation, AmCham Mongolia has created a working group jointly with the Business Council of Mongolia, National Mining Association, CEO club and will work to promote the private sector and business environment which is vital to the economic development,” he said.
B.Misheel
