Tax exemptions approved


2017-12-04 12:54 GMT+8

During its November 30 meeting, Parliament approved value added tax (VAT) exemptions and amendments to the customs tax. Customs tax exemptions will be applied to the import of 225,000 tons of wheat and livestock feed, as well as 10,000 tons of wheat seed.

VAT exemptions will also be applied to these imports. The amended laws will come into force on December 4, 2017, and will be applied through July 31, 2017.

B.Batzorig, Minister of Food, agriculture and light industry emphasized that import companies are responsible for not increasing price of wheat, livestock feed and wheat seed.

Normally herders prepare 1.2-1.4 tons of livestock feed every year. But this year they harvested totally 900 thousand tons because of the drought. 

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