Ulaanbaatar
Tax Reform Proposal by Domestic Manufacturers to Be Reviewed
Politics
Ulaanbaatar, August
14, 2025 /MONTSAME/. The Economic
Development Council, which aims to support government activities by providing
professional assistance, coordinating timely economic development policies, conducting
research, offering recommendations, and fostering public-private cooperation, convened
on August 12, 2025.
Minister of Finance
Javkhlan Bold presented key points of tax reform discussions during the
meeting. A total of 176,000 proposals
were submitted by 13,000 contributors, including individual citizens, business
entities, the Mongolian National Chamber of Commerce and Industry, the
Mongolian Business Council, specialized tax consultants, and professional
associations. More than 50 percent of the total proposals were reflected in the
draft law, consistent with the guiding principle of maintaining economic stability.
Prime Minister
Zandanshatar Gombojav instructed the Ministry of Finance to carefully review proposals
to support the wealth creators and manufacturers who generate employment, noting
that the tax reform should support wealth creators, producers, and employers by
gradually increasing VAT refunds and eliminating the system in which taxpayers
are disadvantaged while non-compliant entities gain.
The Prime Minister stated
that the Government should draft a bill on “Freedom of Business Activity” within
the framework of ensuring the Council's operational stability, as well as
providing support and legal protection to private sector business operations.
A package of bills is currently
being developed to advance tax reform and provide support for the private
sector, employers, wealth creators, and industrialists. The members of the Parliament
are actively working to increase exports, promote trade, and implement changes
to customs control procedures.
