Parliament’s recent approval of the Government proposal to double taxes on imported cigarettes and tobacco will hit Mongol Tamhi Co which imports its raw material.

The company is believed to be exploring possibilities of the President granting it a reprieve by restricting the scope of the new tax. The Government hopes to earn MNT2.2 billion tax revenue a year from the tax which has already come into effect.

 

Source: en.news.mn

Mar 20, 2009