PRESIDENT SUBMITS DRAFT LAWS TO PARLIAMENT
Ulaanbaatar, Mongolia /MONTSAME/ Initiated by the State Head Ts.Elbegdorj, draft amendments to the package of laws on budget and on tax, and a bill on granting cash allowance to children were submitted to parliament on May 16.
These drafts had been submitted to the cabinet with aim to take its proposals.
The State Head's draft on budget reflects a principle that parliament must not increase total expenditure when discussing and approving the state, social insurance and Human Development Fund budgets and their clarifications, initiated by the government.
The draft on the allowance for children says that a school-age child who lives in his/her low-income family or in a care of legal guardian/supporter and who goes to school will receive a cash allowance of MNT 20,000 every month from July this year.
The draft amendment offers to double the threshold for paying the income tax connecting it with the minimum salary and the livelihood level. For example, if a person's income is lower than his/her doubled minimum salary, he/she will be exempted from this tax, and if an income is five times higher than the minimum salary, no discount or exemption will be provided.
B.Khuder
These drafts had been submitted to the cabinet with aim to take its proposals.
The State Head's draft on budget reflects a principle that parliament must not increase total expenditure when discussing and approving the state, social insurance and Human Development Fund budgets and their clarifications, initiated by the government.
The draft on the allowance for children says that a school-age child who lives in his/her low-income family or in a care of legal guardian/supporter and who goes to school will receive a cash allowance of MNT 20,000 every month from July this year.
The draft amendment offers to double the threshold for paying the income tax connecting it with the minimum salary and the livelihood level. For example, if a person's income is lower than his/her doubled minimum salary, he/she will be exempted from this tax, and if an income is five times higher than the minimum salary, no discount or exemption will be provided.
B.Khuder
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