CABINET DOES NOT SUPPORT DRAFT ON IMPOSING 5-PERCENT EXPORT TAX

Ulaanbaatar, Mongolia /MONTSAME/ The Cabinet meeting on Wednesday did not support a draft law on determining a size of the export tax on some goods. The bill initiators P.Altangerel, N.Ganbyamba and other MPs want to impose on coal and iron-ore a 5 percent tax calculated after the sale. The cabinet considers that this will add the taxes' burden on entities, who pay entity income tax, value added tax, tax for using mineral reserves, tax for using growing reserves and others, as well as on coal companies who bound to pay 37-40 percent taxes. It has been decided to send the draft to the Council of customs tariff for consideration and to receive views and conclusions of related specialists associations. B.Oyundelger