In July 2015, the Mongolian Parliament approved the revised “Value Added Tax Law”. The new law will come into force from 1st January 2016 and will enable people will be possible to re-coup 2% of how much they have paid for any shopping items. It will also be easier to use VISA cards. In order reclaim the 2% people must collect their shop receipts for 2015 (by the end of the year) and present them to their local tax office. This is expected to help family budgets. The Mongolian Taxing Authorities are also clamping down on fake tax reports; all tax returns will be studied with greater scrutiny. In order create greater transparency and force entities out of the “hidden economy’ various incentives will be provided for providing accurate information.