By Elena Fehrbach
The Government of Mongolia has made a decision to extend the duration of the Law on the exemption of import of equipment and spare parts from customs duties and VAT for two more years until the end of 2016. The Law only refers to small and medium enterprises (SME). The Law was first introduced in 2009 with one extension.
The Cabinet has also prepared the bill on amendments to the Customs Tariff and Taxes Law. The bill will be submitted at the nearest Parliament session for discussion. The draft Law will support the Government’s Action Plan on development of the construction industry and major development projects with equipment that cannot be produced domestically.