The Economic Development Council held a meeting on August 12 to discuss Mongolia’s upcoming tax reform bill. The Council, which works to coordinate economic policy and foster public-private cooperation, heard updates from Minister of Finance B.Javkhlan on the nationwide consultation process.
A total of 176,000 proposals were received from 13,000 participants, including citizens, businesses, the Mongolian Chamber of Commerce and Industry, the Mongolian Business Council, tax consultants, and professional associations. More than half of these proposals have been incorporated into the draft bill, in line with the principle of maintaining economic stability.
The Council itself submitted 21 sets of proposals on tax cuts, improving law enforcement, and combating tax evasion, with an estimated budget impact of MNT 1.8 trillion. 60% of these were included in the draft. B.Telmuun, Head of Tax Policy at the Ministry of Finance, detailed which proposals were accepted and which were not.
G.Zandanshatar, Prime Minister of Mongolia, instructed the Ministry of Finance to prioritize measures that support wealth creators, producers, and employers, including gradually increasing VAT refunds and eliminating systems that disadvantage compliant taxpayers. He stressed the need for predictable policy discussions to avoid surprises for investors and business owners, noting that the Council should serve as a genuine platform for public-private consultation.
The Prime Minister also suggested drafting “Law on freedom of business operation” to safeguard and encourage private enterprise.
The government plans for the 2026 budget to focus on human development and education. Public consultations are ongoing, with over 167,000 citizens participating so far. Officials believe a transparent budget process will reduce corruption, cut bureaucracy, and boost public trust. A legislative package is also being prepared to strengthen tax reform, promote exports, improve customs procedures, and support the private sector.
The Economic Development Council held a meeting on August 12 to discuss Mongolia’s upcoming tax reform bill. The Council, which works to coordinate economic policy and foster public-private cooperation, heard updates from Minister of Finance B.Javkhlan on the nationwide consultation process.
A total of 176,000 proposals were received from 13,000 participants, including citizens, businesses, the Mongolian Chamber of Commerce and Industry, the Mongolian Business Council, tax consultants, and professional associations. More than half of these proposals have been incorporated into the draft bill, in line with the principle of maintaining economic stability.
The Council itself submitted 21 sets of proposals on tax cuts, improving law enforcement, and combating tax evasion, with an estimated budget impact of MNT 1.8 trillion. 60% of these were included in the draft. B.Telmuun, Head of Tax Policy at the Ministry of Finance, detailed which proposals were accepted and which were not.
G.Zandanshatar, Prime Minister of Mongolia, instructed the Ministry of Finance to prioritize measures that support wealth creators, producers, and employers, including gradually increasing VAT refunds and eliminating systems that disadvantage compliant taxpayers. He stressed the need for predictable policy discussions to avoid surprises for investors and business owners, noting that the Council should serve as a genuine platform for public-private consultation.
The Prime Minister also suggested drafting “Law on freedom of business operation” to safeguard and encourage private enterprise.
The government plans for the 2026 budget to focus on human development and education. Public consultations are ongoing, with over 167,000 citizens participating so far. Officials believe a transparent budget process will reduce corruption, cut bureaucracy, and boost public trust. A legislative package is also being prepared to strengthen tax reform, promote exports, improve customs procedures, and support the private sector.