Ulaanbaatar
Necessity of Incorporating Policies to Support National Production into the Legal Framework Emphasized
Society
Ulaanbaatar, February 4, 2025 /MONTSAME/. On January 30, 2025, the Working Group in charge of reviewing the implementation of tax laws held a discussion with representatives from small and medium-sized enterprises at the Mongolian National Chamber of Commerce and Industry. The series of discussions were held under the theme “Current State of the Tax System of Mongolia and Required Changes” organized by Order No.292 of the Chairman of the State Great Khural of Mongolia.
The discussion was attended by over 80 business representatives, as well as officials from the Mongolian National Chamber of Commerce and Industry, and the General Department of Taxation. At the discussion, Head of the Office of the Mongolian Association of Certified Tax Consultants, Auditor, Certified Tax Consultant, and Tax Analyst G. Khishigzul made a presentation on the methods for clarifying and reforming tax laws, improving personal income tax regulations, aligning tax policies with societal changes, and addressing key issues such as tax incentives and exemptions, drawing comparisons with international practices.
Participants of the discussion emphasized the necessity of improving the legal environment and state policies aimed at supporting national production. Specifically, they called for tax reforms that would focus on promoting business through economic policy, expanding business activities, and ensuring fairness and equity within the tax system.
According to the Ministry of Finance of Mongolia, a study conducted in 2023 covering over 158,000 enterprises revealed that the average tax burden on businesses stood at 10.1 percent. This indicates that enterprises allocate this percentage of their revenue to taxes. The tax burden for micro, small, and medium-sized enterprises equals 5-6 percent, while large enterprises bear a tax burden of 12.8 percent.
