According to Prime Minsiter Saikhanbileg, speaking at a session of parliament last Friday, as of the 18th December, a total of MNT 6.1 trillion has been declared by companies and individuals using the ‘grace period’ provided by the “Economical Transparency Law”. This sum can be broked down as follows: MNT 3.7 trillion has been collected via the “Law of Company Income Tax”, MNT 2.2 trillion via the “Law of Personal Income Tax” and MNT 224 billion related to real estate tax. Although, there have been many requests to to extend the deadline of the “Economical Transparency Law”, the government is requesting that tax statements be submitted during the period which has been officially set. In this connection, the prime minister noted: “Extending the deadline of the law might be detrimental its implementation. Therefore, we must to complete the implementation of this law by 31^st December, as planned.

Several organizations are actively involved in facilitating the implementation of the law. These include: the General Tax Authority, the Social Insurance Authority, the State Registration Office of Mongolia and the State Customs House. Numerous documents have been created as a result of the law.    

During the parliamentary session, the officials of the taxation office noted that they are doing their utmost to help facilitate the implementation of the law.