BILL ON VAT EXEMPTION BACKED

Ulaanbaatar, Mongolia /MONTSAME/ On Wednesday, the cabinet backed in principle a draft law on exemption of value-added tax and customs tax. The government has considered as necessity to discuss it together with a draft amendment to the law on exemption of VAT, which has been worked out by the cabinet. The first one has been drawn up by G.Batkhuu MP. He wants to free from the VAT and customs tax the imported agricultural facilities such as tractors, combine harvesters, machines, equipment for flour mills, irrigation, fertilizers and pesticides, until December 31, 2016. B.Khuder