Sports equipment to be exempt from import duties

2019-06-20 13:42:31

Ulaanbaatar /MONTSAME/ At its meeting on June 19, the Cabinet discussed and approved the ‘List of sports equipment’ according to the Provision No. 38.1.19 of the Law on Customs Tariff and Taxes.

In accordance with the draft provision formulated by the Ministry of Education, Culture, Science and Sports, Physical Culture and Sports Authority and sports associations, over 730 types of goods approved by 32 international sports associations will be exempt from import duties and taxes.

According to the Customs General Administration, Mongolia imports about MNT 40 billion worth of sports equipment and products annually, with sports associations importing MNT 400 million worth equipment and paying more than MNT 60 million in taxes.

The Cabinet’s decision is considered to be a major boost to the development of continental and international sports events at home.