Economic Transparency “Window” to close in five days

2016 оны 2 сарын 16

The EconomicTransparency Law was introduced in 2015 to provide an opportunity for tax payers for submitting tax declarations which they had hitherto with held. When the law was approved first in August, the deadline for receiving the tax statements was 31st December 2015; however, due to calls from the public, the deadline was extended until 20th February.

As of today, only five days remain, after which those people who have failed to submit information on taxable assets and transactions could face full legal penalties.

The Economic Transparency Law has proved successful in many respects and has so far generated MNT 14.4 trillion in tax revenue.

 

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