Tax revenue rises by 22.8 percentEconomy
Ulaanbaatar /MONSTAME/ In the first 4 months of 2017, total equilibrated revenue and grants of the General Government Budget amounted to MNT 2,094.4 billion and total expenditure and net lending amounted to MNT 2,379.8 billion, representing a deficit of MNT 285.5 billion in the equilibrated balance.
The tax revenue reached MNT 1,799.3 billion, showing an increase by MNT 333.8 billion 22.8% compared to the same period of the previous year.
This growth was mainly affected by increase in income taxes, which increased by 2.1 times or MNT 254.9 billion, 34.4% increase in value added taxes amounted to MNT 107.9billion, 57.6% increase in import and export tax revenue amounted MNT 45.2 billion, 35.5% increase in other taxes amounted to MNT 50.6 billion. However there was a decrease of excise taxes by 16.5% and social security contributions by 20.8%.
Source: National Statistics Office