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Tax exemptions considered for imports for projects financed by Austrian loans

By B.MENDBAYAR

At the Cabinet meeting held on December 10, the government resolved to submit a draft law for Parliamentary discussion to exempt imports of equipment, facilities and supplies for projects being implemented through a soft loan from the Austrian government from Mongolian customs tax.
The governments of Mongolia and Austria established a financial cooperation agreement to implement several projects and programs, on November 28, 2011. Under the agreement, the Austrian government agreed to grant a 40 million EUR soft loan to cooperatively implement several large scale projects in infrastructure, education, healthcare, and social protection.
The agreement includes a clause to exempt the equipment, facilities and supplies to be imported within the scope of the projects from Mongolian customs tax.
The agreement also calls for financing a facilities and equipment modernization program for large state-owned hospitals, the introduction of new technology to upgrade Ulaanbaatar’s water and sewer pipes without digging trenches, and a project to improve the capacity of fire fighting facilities and the equipment of emergency management agencies.
Also resolved at the Cabinet meeting was the assignment of Ambassador Extraordinary and Plenipotentiary of Mongolia to Austria G.Batjargal to sign an export credit agreement for the projects to be implemented in the scope of the financial cooperation agreement.
Providing the large state-owned hospitals, which have not undergone substantial modernization in recent years, with new facilities and diagnostic equipment is expected to allow the hospitals to carry out cancer radiation therapy, organ transplantation and laparoscopic surgeries, the diagnosis and treatment of cardiac catheters, and hemodialysis treatment conforming to international standards.

Short URL: http://ubpost.mongolnews.mn/?p=12822

Posted by on Dec 14 2014. Filed under Business & Economics. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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