Ulaanbaatar
Draft bill to be prepared on export tax exemption for products of animal origin
PoliticsUlaanbaatar /MONTSAME/ Concept of the draft amendment to the law on custom tax designation for some products was considered by the cabinet on the regular meeting of Wednesday and approved. In the margin, the Minsters decided to submit a bill on exempting export taxes for products of livestock origin to Parliament.
The bill is to be developed by the Ministers of Justice and Domestic Affairs and of Finance and will be first discussed by the cabinet.
The draft proposes that the regulation will take effect from January 1 of 2017, and expects to increase exports of agricultural products, boosting growth of this sector and improving incomes of livestock herders.
