The new law of VAT Law which promotes economic transparency was ratified in 2016. Since then, the law budget revenue increased by 487.1 billion MNT and the VAT tax by 70 billion MNT. This statistic shows that tax revenue were raised successfully. Since January 1, 2016, budget revenue increased by 800 billion MNT as planned. Because of this increase, the MNCCI and member of the organization delivered proposals to the government of Mongolia.
Business enterprises voice was heard by the government of Mongolia. They thought that the Mongolian Government did not need to increase budget costs, pension age, increase other taxes under the conditions to implement the “Extended fund facility” program of the IMF. Regarding this issue Mongolian National Chamber of Commerce and Industry and delegates of Mongolian enterprises held a press conference.
Mongolian enterprises demanded the government to refuse the increase of the budget, social insurance and personal income taxes. In addition, they would demanded a decreased number of government officers.