Tax Reform Proposal by Domestic Manufacturers to Be Reviewed

Ulaanbaatar, August 14, 2025 /MONTSAME/. The Economic Development Council, which aims to support government activities by providing professional assistance, coordinating timely economic development policies, conducting research, offering recommendations, and fostering public-private cooperation, convened on August 12, 2025.

Minister of Finance Javkhlan Bold presented key points of tax reform discussions during the meeting.  A total of 176,000 proposals were submitted by 13,000 contributors, including individual citizens, business entities, the Mongolian National Chamber of Commerce and Industry, the Mongolian Business Council, specialized tax consultants, and professional associations. More than 50 percent of the total proposals were reflected in the draft law, consistent with the guiding principle of maintaining economic stability.

Prime Minister Zandanshatar Gombojav instructed the Ministry of Finance to carefully review proposals to support the wealth creators and manufacturers who generate employment, noting that the tax reform should support wealth creators, producers, and employers by gradually increasing VAT refunds and eliminating the system in which taxpayers are disadvantaged while non-compliant entities gain.

The Prime Minister stated that the Government should draft a bill on “Freedom of Business Activity” within the framework of ensuring the Council's operational stability, as well as providing support and legal protection to private sector business operations.

A package of bills is currently being developed to advance tax reform and provide support for the private sector, employers, wealth creators, and industrialists. The members of the Parliament are actively working to increase exports, promote trade, and implement changes to customs control procedures.