Excise tax on petrol and diesel fuel reduced

2017-01-26 10:40:03

Ulaanbaatar /MONTSAME/ During its regular meeting on January 25, the Cabinet refixed the rate of excise tax imposed on petrol and diesel fuel in order to subdue the increasing price of petrol and diesel fuel in connection with a rise of oil price on global market, and maintain it.

The Cabinet resolution reduces excise tax on petrol from MNT 160 thousand to MNT 50 thousand /MNT 30 thousand for above 90 octane petrol/ and diesel fuel from MNT 180 thousand to MNT 70 thousand. Although state budget revenue will decrease by MNT 110 billion as a result, corresponding Ministry and organization see that such decision can subdue the rise of petrol and diesel fuel prices.

Ts.Dashdorj, Minister for Mining and Heavy Industry and B.Lkhagva, Director of Authority for Fair Competition and Consumer Protection were assigned to see to the implementation of the resolution.

Previously, the Cabinet twice reduced the excise tax on petrol and diesel fuel.