According to the Risk Management Department of the Taxation General Administration (TGA), producers of wool and cashmere products, construction firms, and coal-shipping companies in Mongolia have evaded paying taxes totaling MNT 460.6 billion. The TGA says the businesses have concealed taxable transactions, falsely reported income, and failed to file financial statements.
The TGA is increasing its monitoring of those businesses, and also plans to investigate private secondary schools, auto dealers, drug stores, and mining and mineral resource companies.
TGA chief B.Battumur says he has made it a priority to prosecute tax evaders. The TGA is receiving assistance through two programs: “Improvement of Tax Management,” which is run in association with the International Monetary Fund, and “Strengthen Taxpayers’ Duty,” which is run in association with the United States Department of the Treasury.
Comments
Nip this trend in the bud .the money may end up in tax heavens
Where do they get this number from? Is it an estimate, or is what they actually were able to find? In the latter case the real number must be much higher, right?
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