VAT REFUNDS WORTH MNT 78 BILLION TO BE DISTRIBUTED

Ulaanbaatar /MONTSAME/ The Cabinet resolved to begin the transaction of Value-added Tax (VAT) refunds into the citizens’ bank accounts on January 31. This year, more than 654 thousand citizens will be receiving refunds worth MNT 78 billion for their purchases in 2017. In 2016, more than 497 thousand taxpayers received MNT 35 billion for VAT refunds. The 20 percent VAT refunds will be distributed to taxpayers on quarterly basis, the Cabinet decided. Last year, about 120 thousand citizens won money worth MNT 5 billion in VAT lottery. Kh.Aminaa