Customs tax of import increases

Odonchimeg 2016-04-25 09:04

Economy

Customs tax of import increases.

Customs tax of import increases. From May, customs tax of some 50 import goods increases from 5 to 20 percent. The tax increased import includes milk, milk products, woolen products, furniture, potato and other vegetables etc. It is the second series of the government actions to protect national producers against import and to contribute to the local economic growth by restricting the flow out of the national currency. In July, past year the customs tax increase was introduced on over a dozen products including cement, honey, canned foods etc. The import restriction allows expansion of the national industry, promotes competitiveness and opens up the possibility for national manufactures to enter international markets.