State Great Khural Plenary session is discussing the agenda for today.
The agenda for today includes whether to discuss the draf law on waiving the customs taxes submitted on April 10th, 2015.
Introduction on the draft law was made by Minister of Finance J.Erdenebat and the conclusion of the Budget Standing Committee was introduced by MP M.Sonompil.
In case the draft to be approved by the parliament the technical loan worth USD 40 million to be granted to import medical equipment and sewage equipment for repair works in the Ulaanbaatar city sewage system.
The draft law on waiving from the customs taxes includes the issues of the technical loans from the Austrian Government worth USD 40 million. The loan is to have zero interest rate.
Minister of Finance J.Erdenebat noted that the discussion of the soft loans from abroad by the two standing committees and two times discussion by the State Great Khural takes much time.
There is standard in Mongolia to waive the customs taxes on the technical import purchased with the soft loans, whereas some of the MPs namely MP B.Choijilsuren were asking if there is any conflict of interest concerning this waiver to which Minister of Finance replied that this specific draft discusses only technical loans associated with Austria and no other countries are in discussion.
While MP D.Terbishdagva noted that fire fighting equipment should be solved within this frameork, but on the other hand state needs taxes to frame the budget.
According to Minister of Finance the equipment sent from Red Cross to its Mongolia branch was once waivered from the customs taxes and in 2014 equipment worth MNT 109 billion was waivered from the taxes procured by the state entities.
Moreover, minister have note that private sector has privillege of postponing customs taxes on import equipment for up to 2 years.
47 MPs out of present 61 have voted for the approval and the draft law has been submitted for discussion preparations to Budget Standing Committee. In case the draft to be approved by the parliament the technical loan worth USD 40 million to be granted to import medical equipment and sewage equipment for repair works in the Ulaanbaatar city sewage system. Government sees the loans as the best way to deal with the issues in the time of economic downturn.
State Great Khural Plenary session is discussing the agenda for today.
The agenda for today includes whether to discuss the draf law on waiving the customs taxes submitted on April 10th, 2015.
Introduction on the draft law was made by Minister of Finance J.Erdenebat and the conclusion of the Budget Standing Committee was introduced by MP M.Sonompil.
In case the draft to be approved by the parliament the technical loan worth USD 40 million to be granted to import medical equipment and sewage equipment for repair works in the Ulaanbaatar city sewage system.
The draft law on waiving from the customs taxes includes the issues of the technical loans from the Austrian Government worth USD 40 million. The loan is to have zero interest rate.
Minister of Finance J.Erdenebat noted that the discussion of the soft loans from abroad by the two standing committees and two times discussion by the State Great Khural takes much time.
There is standard in Mongolia to waive the customs taxes on the technical import purchased with the soft loans, whereas some of the MPs namely MP B.Choijilsuren were asking if there is any conflict of interest concerning this waiver to which Minister of Finance replied that this specific draft discusses only technical loans associated with Austria and no other countries are in discussion.
While MP D.Terbishdagva noted that fire fighting equipment should be solved within this frameork, but on the other hand state needs taxes to frame the budget.
According to Minister of Finance the equipment sent from Red Cross to its Mongolia branch was once waivered from the customs taxes and in 2014 equipment worth MNT 109 billion was waivered from the taxes procured by the state entities.
Moreover, minister have note that private sector has privillege of postponing customs taxes on import equipment for up to 2 years.
47 MPs out of present 61 have voted for the approval and the draft law has been submitted for discussion preparations to Budget Standing Committee. In case the draft to be approved by the parliament the technical loan worth USD 40 million to be granted to import medical equipment and sewage equipment for repair works in the Ulaanbaatar city sewage system. Government sees the loans as the best way to deal with the issues in the time of economic downturn.