The Mongolian Government has formulated a draft law to make updates to the package of tax laws. The draft law is in preparation to be discussed when the autumn session meeting of Parliament begins.

The new draft law will comprise to project the tax for residents in apartments and ger districts in Ulaanbaatar city.

Residents who live in apartments would be charged between 1000 and10000 MNT per square meter of their apartment once a year if the law is enacted.

But economists demand the draft law that has been formulated by the Ministry of Finance to make it clear to the public.

Law makers believe that urbanization, a movement from rural areas to the city, will be eased if the draft is enacted.