Excise tax to increase on tobacco

Odonchimeg 2016-05-05 08:05

Economy

Excise tax to increase on tobacco.

Excise tax to increase on tobacco. Draft amendment to the law on excise tax is submitted for parliamentary consideration. The amendment to the law proposes maximizing the excise tax on tobacco, said the draft initiator. “The bill is designed in consideration of the obligations Mongolia has assumed with the ratification of the WHO Framework Convention on Tobacco Control in 2003. The convention’s Sixth article reflects price and tax-related measures that will be conducive to reducing tobacco consumption,  in compliance with which parties to the convention are committed to augment tax on tobacco that is found as an effective approach to minimizing the number of smokers, especially that of youngsters,” said the draft initiator, Parliament member Erdenechimeg.