MPs suggest increase VAT
MP’s Ya.Batsuuri and P.Altangerel initiated a draft law on VAT. Current law on VAT adopted in 2006 and acoording the current law companies who has above Tg10 million have to pay 10 percent for VAT.
MP’s who initiated draft law explained “Economy has changed a lot sibce 2006. In 2006 medium size companies has sale in Tg10 million sale. Now this amount money can produce small companies or families” said MPs.
By the Genetal Tax Office 40 percent of tax payers has to Tg10 million income but they paid only 1.6 percent of VAT.
Therefore MPs suggested increase Tg10 million to Tg100 million.
MP’s who initiated draft law explained “Economy has changed a lot sibce 2006. In 2006 medium size companies has sale in Tg10 million sale. Now this amount money can produce small companies or families” said MPs.
By the Genetal Tax Office 40 percent of tax payers has to Tg10 million income but they paid only 1.6 percent of VAT.
Therefore MPs suggested increase Tg10 million to Tg100 million.
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