Ooluun.B
ooluun@montsame.gov.mn
2025-08-30 11:00:46
Seven types of tax rates to be raised following budget amendments
Ulaanbaatar /MONTSAME/ Amendments to the 2017 State Budget, which were approved by the Parliament yesterday, April 13, laid out to raise seven types of taxes, as the Government agreed with the International Monetary Fund in the scope of a three-year Extended Fund Facility. Tax rate increase of four types of taxes will come into effect starting May 01. Those include individual income tax, tax on interest of bank savings, customs tax on imported cigarettes and excise tax on passenger cars.
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Trilateral agreement signed to support employment
Ulaanbaatar /MONTSAME/ Today, April 14, a trilateral agreement was established between the Capital Governor’s office, Confederation of Trade Unions of Ulaanbaatar and the Mongolian Employers' Federation, with an aim to increase employment of citizens of the captial city and develop small and medium enterprises. The parties agreed to collaborate in protecting legal rights and interests related to employment and develop social partnership, putting 22 tasks forward.
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Seven types of tax rates to be raised following budget amendments
Ulaanbaatar /MONTSAME/ 2017 Budget amendment, which approved by the Parliament yesterday, has raised seven types of taxes, as the Government agreed with the International Monetary Fund in the scope of the three-year Extended Fund Facility. Tax rate increase of four types of taxes will come into effect starting May 01. Those include individual income tax, tax on interest of bank savings, customs tax on imported cigarettes and excise tax on passenger car.
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Money supply reaches MNT12.2 trillion
Ulaanbaatar /MONTSAME/ According to the Central Bank of Mongolia, the money supply has reached MNT12.2 trillion at the end of March 2017, showing a decrease by MNT79.5 billion or 0.6 per cent from the previous month and an increase by MNT2 065.3 billion or 20.4 per cent compared with the same period of 2016. At the end of March 2017, the national currency in circulation reached MNT 788.3 billion, down by MNT156.5 billion  or 16.6 per cent from the previous month and up by 129.7 billion  or 19.7 per cent compared to the same period of 2016.The amount of outstanding loan amounted to MNT12.7 trillion in the reference period. This is a growth by 0.8 per cent from the previous month and by 7.1 per cent from the same period of 2016.
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Social insurance fund revenue increases
Ulaanbaatar /MONTSAME/ In the first quarter of 2017, the General Authority for Health and Social Insurance of Mongolia reported that the revenue of Social Insurance Fund amounted to MNT 484.7 billion, reflecting an increase of MNT82.2 billion or 20.4 percent and expenditure of the fund reached 450.3 billion, showing an increase of MNT47.4 billion or 11.8 percent compared to the same period of the previous year. In the first quarter of 2017, revenue of social Insurance fund has increased by MNT82.2 billion compared to the same period of the previous year. This was partially due to increased revenue of pension insurance fund by MNT 60.5 billion and health insurance fund by MNT7.6 billion. The Social insurance fund expenditure increased by MNT47.4 billion compared a year ago. Main reason goes to increase in pension insurance fund expenditure by MNT31.5 billion, health insurance fund by MNT9.6 billion and unemployment insurance fund by MNT3.0 billion.
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2017 Budget amendment approved
Ulaanbaatar /MONTSAME/ Yesterday, April 14, Parliament approved amendments to the law on 2017 State Budget and Law on Social Insurance Fund, proposed by the Cabinet on March 24. The amendments sets the 2017 state revenue projection at MNT6.035.7 billion or 23.3 per cent of GDP and expenditure at MNT8.750.2 billion, 33.6 per cent of GDP, with a deficit amounting to MNT2.714.4 billion, 10.4 per cent of GDP. 
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Chamber of Commerce and Industry cancels its demonstration
Ulaanbaatar /MONTSAME/ Today, the National Chamber of Commerce and Industry of Mongolia made an statement that the Chamber has cancelled a demonstration which planned to organize today, on April 13 at the central square. The chamber had handed a petition to the parliament, appealing to not  increase tax rates, imposing pressure to companies. However , the Chamber President B.Lhagvajav stated that they had met with the Parliamentary Speaker and reached an agreement.
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National Naadam Festival celebration to get MNT2.7 billion funding
Ulaanbaatar /MONTSAME/ Yesterday, the Organizing Commission of the National Naadam Festival held  a meeting at the State House, discussing about the budget of Mongolian traditional Naadam Festival, the state ceremonial concert and granting state titles to some national archers.
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Money in offshore bank accounts to be withdrawn in three months
Ulaanbaatar /MONTSAME/ At its plenary meeting held on April 13, the Parliament approved amendments to Law on Managing and Preventing from conflict of interests in the public service. The law bans state and government officials to hold offshore bank accounts and if the officials already have offshore bank accounts and have deposited money, they are obliged to withdraw money from the account within three months since the law approval and to report about it within 30 days after the action.
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21000 officials to work at Presidential Election
Ulaanbaatar /MONTSAME/ Yesterday, on April 12, the General Election Commission held its regular meeting, forming 22 organizing committees of the Presidential Election in aimags and in the capital.
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MP Ts.Nyamdorj makes statement related to murder case of S.Zorig
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National script promoted in Sukhbaatar aimag
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Minor corruption spreads in education sector
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Speaker M.Enkhbold meets Japanese citizen diplomats
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Midterm Program on Strategic Partnership of Mongolia and Japan signed
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Sending Mongolian trainees to Japan under discussion
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Speaker M.Enkhbold meets Japanese PM Shinzo Abe
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Speaker M.Enkhbold continues visit to Japan
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Speaker M.Enkhbold meets Speaker and President of Japanese Parliamentary Houses
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Minor corruption spreads in education sector
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Governor-General of Australia to Pay State Visit Mongolia 19 hours
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Uniting Youth Through Cultural Diplomacy 9 days
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