Ulaanbaatar
Taxpayers call for tax reform and optimization
Economy
Ulaanbaatar /MONTSAME/ A recent study conducted by the School of Business of the National University of Mongolia (NUM) concluded that a wider-scale study on taxation of Mongolia is needed.
The study themed ‘Tax Reform and Optimization in Mongolia’ was conducted at the order to the Mongolian National Chamber of Commerce and Industry to find that 57.5 percent of taxpayers who partook in the survey defined Mongolia’s tax environment ‘unfavorable’ whereas 28 percent believed that the Government should optimize tax policy and ease the pressure on taxpayers.
Focusing on tax reform and aiming to identify means for improvement of tax management, the study assessed the impact of taxation on the economy with the use of advanced methods in addition to the conventional methods of economic analysis. The study resulted in the formulation of a set of recommendations and instructions on how to perfect taxation and optimize budget revenue and expenditure.
While successfully financing the budget, taxation has not been able to play its role to balance population livelihood by imposing varying amount of tax on individuals based on their income level and other factors, the researchers said.
A group of eight faculty members of the NUM led by Professor N.Tungalag (PhD) conducted the study. The outcome of the study was publicized on December 12 at a press conference.
The study themed ‘Tax Reform and Optimization in Mongolia’ was conducted at the order to the Mongolian National Chamber of Commerce and Industry to find that 57.5 percent of taxpayers who partook in the survey defined Mongolia’s tax environment ‘unfavorable’ whereas 28 percent believed that the Government should optimize tax policy and ease the pressure on taxpayers.
Focusing on tax reform and aiming to identify means for improvement of tax management, the study assessed the impact of taxation on the economy with the use of advanced methods in addition to the conventional methods of economic analysis. The study resulted in the formulation of a set of recommendations and instructions on how to perfect taxation and optimize budget revenue and expenditure.
While successfully financing the budget, taxation has not been able to play its role to balance population livelihood by imposing varying amount of tax on individuals based on their income level and other factors, the researchers said.
A group of eight faculty members of the NUM led by Professor N.Tungalag (PhD) conducted the study. The outcome of the study was publicized on December 12 at a press conference.
Kh.Aminaa
