General Customs Office provides State Fund with 690.8 billion MNT
The General Customs Office (GCO) had planned to provide an income of one trillion MNT to the Mongolian State Fund in first half of 2013, but only reached 64.8 percent of its goal by providing 690.8 billion MNT.
The plan wasn’t fulfilled as the profit earned from excise tax on imported alcoholic beverages and cigarettes declined by 15.7 billion MNT, imported automobile by 735.5 million MNT, while excise tax on imported beer fell by 979.5 million MNT.
Also, customs excise duty on auto and diesel fuel was annulled, making the 12.2 billion MNT income originally planned to for State Fund impossible.
A decrease in exports and imports also affected the decline in income. For instance, spar export declined by 62,300 tons; fossil coal export by 2.6 million tons; and copper ore by 2.7 tons in the first six months of 2013.
In addition, 995 pieces of equipment designated for 36 different industry sectors were imported to Mongolia with exemption from customs duty and value-added-tax as part of government support for domestic small and medium enterprises. This also contributed to the decrease in revenue.
Short URL: http://ubpost.mongolnews.mn/?p=4735
The plan wasn’t fulfilled as the profit earned from excise tax on imported alcoholic beverages and cigarettes declined by 15.7 billion MNT, imported automobile by 735.5 million MNT, while excise tax on imported beer fell by 979.5 million MNT.
Also, customs excise duty on auto and diesel fuel was annulled, making the 12.2 billion MNT income originally planned to for State Fund impossible.
A decrease in exports and imports also affected the decline in income. For instance, spar export declined by 62,300 tons; fossil coal export by 2.6 million tons; and copper ore by 2.7 tons in the first six months of 2013.
In addition, 995 pieces of equipment designated for 36 different industry sectors were imported to Mongolia with exemption from customs duty and value-added-tax as part of government support for domestic small and medium enterprises. This also contributed to the decrease in revenue.
Short URL: http://ubpost.mongolnews.mn/?p=4735
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