Ulaanbaatar
First winner revealed for super cash prize of VAT lottery
映像Months have passed since giving back to people incentives of the Value added tax. Adopted by parliament in July of 2015, the law on the VAT incentive came into force from January 1 of this year.
In accordance with the law, consumers started to take back money which is equivalent to two per cent of products they purchased. In addition, consumers became able to be involved in lottery with numbers on bills.
Since running of seven-time lottery, 70 400 people have won two billion 931 million and 40 thousand Togrog. On the latest lottery held on March 20, a person won the lottery’s super prize of 400 million Togrog.
By the law, people’s participation in tax has increased, and it contributes to abolishing “hidden” economy.
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