In relevance with the public vote to increase the VAT refund to 5%, G.Temuulen, Member of the Mongolian Parliament and Chair of the Standing Committee on State Budget, has made a proposal to establish a working group to analyze Social insurance fee and Personal income tax, not only on Value Added Tax. And the proposal has been supported.
In particular, Citizens are making proposals and voting on making the VAT refund 5% and it shows that there is a hidden economy related to the VAT 10%, and the tax burden is high. Thus, it is necessary to analyze taxes such as SIF and PIT, and need to make evaluations on the tax system. And we will present a proposal for tax reform if necessary.
G.Temuulen, Member of the Mongolian Parliament and Chair of the Standing Committee, said above during the discussion of the Standing Committee of the State Budget on a proposal to increase the value added tax from 2% to 5% signed by 104,000 people in 6 days.
The members of the Standing Budget Committee are asking questions about the budget project for the establishment of a working group. B.Purevdorj, Member of the Parliament, said that the Democratic Party group in the Parliament decided to support the proposal and to reduce the percentage of VAT would be the basis for increasing the number of taxpayers.
A total of 489 proposals were received in the D-Parliament electronic system, 50 percent of which were related to VAT. And 104,791 citizens supported the proposal in six days.
In relevance with the public vote to increase the VAT refund to 5%, G.Temuulen, Member of the Mongolian Parliament and Chair of the Standing Committee on State Budget, has made a proposal to establish a working group to analyze Social insurance fee and Personal income tax, not only on Value Added Tax. And the proposal has been supported.
In particular, Citizens are making proposals and voting on making the VAT refund 5% and it shows that there is a hidden economy related to the VAT 10%, and the tax burden is high. Thus, it is necessary to analyze taxes such as SIF and PIT, and need to make evaluations on the tax system. And we will present a proposal for tax reform if necessary.
G.Temuulen, Member of the Mongolian Parliament and Chair of the Standing Committee, said above during the discussion of the Standing Committee of the State Budget on a proposal to increase the value added tax from 2% to 5% signed by 104,000 people in 6 days.
The members of the Standing Budget Committee are asking questions about the budget project for the establishment of a working group. B.Purevdorj, Member of the Parliament, said that the Democratic Party group in the Parliament decided to support the proposal and to reduce the percentage of VAT would be the basis for increasing the number of taxpayers.
A total of 489 proposals were received in the D-Parliament electronic system, 50 percent of which were related to VAT. And 104,791 citizens supported the proposal in six days.