Taxation organizations collected MNT 9.3 trillion to the state and local budgets, exceeding by MNT 1.1 trillion the planned MNT 8.2 trillion, according to the 2022 Financial Report.

Head of General Department of Taxation B. Zayabal announced that tax revenue of MNT 10.1 trillion would be collected to the state budget in 2023 at the opening of Taxpayers' Days, annually organized by the Department.

The top 10 biggest taxpayers announced are as follows:

• "Erdenet Plant" State-Owned Company leads with MNT 1.216.2 billion

• "Erdenes Tavantolgoi" JSC MNT 990.1 billion

• "Oyu Tolgoi" LLC MNT 439.9 billion

• "Energy Resources" LLC MNT 289.3 billion

• "Tavantolgoi" JSC MNT 261.6 billion

• APU JSC MNT 212.1 billion

• KHAAN Bank MNT 197.4 billion

• Golomt Bank LLC MNT 137.4 billion

• "COAL" LLC MNT 104.0 billion

• "Tsairt Mineral" LLC MNT 98.6 billion

Last year's performance shows that companies and enterprises engaged in mining, processing, financial and insurance sectors paid the most taxes.

Overseas and domestic operations of the Mongolian tax organizations have been fully transferred to the digital platform. This year's Taxpayers' Days will be celebrated under the slogan "Let's have service digitally," said Head of the General Department of Taxation B. Zayabal.

According to the tax revenue performance data for the first four months of this year compared to the same period of the last year, the tax revenue increased by MNT 1.5 trillion. The budget revenue plan and performance also exceeded by some MNT 1 trillion. This is directly related to the recovery of the mining industry and the volume of exports.

As for VAT revenue, internationally it accounts for 30-35 percent of the total budget revenue. In the countries of the European Union, it makes 33-34 percent while in Mongolia, 24-27 percent of the total budget revenue is generated from VAT revenue. Last year, MNT 1.7 trillion was collected only from VAT. Approximately MNT 257 billion was spent on the two percent VAT refunds, some MNT 10 billion were allocated for prizes and lotteries, totaling MNT 270 billion.

While previously the General Department of Taxation used to announce the 10 biggest taxpayers, since last year it started to select the top 10 taxpayers in four categories, dividing taxpayers into the following four segments:

• 900 enterprises in the large segment,

• 300 enterprises in the medium segment,

• 30 thousand enterprises the small segment,

• 150,000 enterprises in the micro segment.

Yesterday General Department of Taxation announced the top 10 companies from four segments each. The top 10 micro companies by activity profile represent wholesale and retail trade, information and communication, construction, administrative and support services, scientific and technical, housing and food service sectors.

On 8 May, Finance Minister B.Javkhlan met with newly appointed International Monetary Fund (IMF) Resident Representative in Mongolia Tigran Poghosyan, who is in Mongolia on a two-week study visit.

The sides exchanged views on the current economic situation in Mongolia the intensification of cooperation between the IMF and Mongolia, as well as on future activities during the meeting.

The term of office of IMF Resident Representative in Mongolia Yoon Seok Hyun expires in early July this year. New Resident Representative Tigran Poghosyan will work in Mongolia for three years.

Previously, he served as the IMF Resident Representative in Kyrgyzstan.

The U.S government will end the COVID-19 vaccine requirements for international air travelers at the end of the day on May 11, the same day that the COVID-19 public health emergency ends.

This means starting May 12, noncitizen nonimmigrant air passengers will no longer need to show proof of being fully vaccinated with an accepted COVID-19 vaccine to board a flight to the United States.

For more information please visit: https://travel.state.gov/.../update-on-change-to-us...

Mongolia's inflation, as measured by the consumer price index, rose 11.3 percent year on year in April, data from the country's National Statistics Office (NSO) showed Tuesday.

The increase was mainly related to the higher prices of imported goods, especially food products, the NSO said.

More than half of over 400 items of the landlocked country's consumer goods and services basket are imported, according to the statistical agency.

Mongolia has aimed at reducing its inflation rate to a single digit by the end of this year, the country's central bank has said.

Former Dayton Flyers guard Mike Sharavjamts received an invitation to the G League Elite Camp. The event will take place May 13-14 in Chicago. It precedes the NBA Draft Combine, which lasts from May 15-21 at Wintrust Arena in Chicago.

Last year, 44 players were invited to the G League Elite Camp. Select players from the camp moved on to participate in the combine.

According to a press release, the camp “gives draft prospects an opportunity to display their skills in front of NBA and NBA G League scouts, coaches and front-office executives over the course of the camp by playing in five-on-five games and participating in strength and agility drills.”

Sharavjamts also has scheduled workouts with Dallas Mavericks, Utah Jazz and the Milwaukee Bucks, according to a report by the Mongolian Hoops Instagram account. Sharavjamts announced his decision to leave Dayton after one season on March 28.

The first Mongolian citizen to play Division I men’s basketball, Sharavjamts, a 6-foot-8 guard/forward was the only freshman on Dayton’s roster last season. He made the Atlantic 10 Conference All-Rookie team, averaging 5.6 points and 2.6 assists in 30 games. He started 20 games.

Steppe Gold Ltd (TSX:STGO, OTCQX:STPGF) announced that it has entered into an arrangement agreement to acquire all of the issued and outstanding common shares of Anacortes Mining Corp.

The Mongolia-focused precious metals company said Anacortes shareholders will receive 0.4532 of a Steppe Gold common share for each Anacortes share held, which represents consideration of about C$0.48 per Anacortes common share.

“We are very pleased to add one of the highest-grade undeveloped oxide gold deposits in the world to our development pipeline,” Steppe Gold CEO Bataa Tumur-Ochir said in a statement.

“Our vision is to build a 200,000 ounce gold equivalent production profile, with our ATO Phase 2 expansion project expected to come online in 2025 and the Tres Cruces Mine moving to production soon thereafter,” Tumur-Ochir added.

About the company

Steppe Gold Ltd is Mongolia's premier precious metals company producing gold from the operational oxide zone of the ATO Gold Mine.

The company has completed a feasibility study into expansion of the ATO Gold Mine to approximately 100,000 ounces of gold per annum from the development of underlying fresh rock ores.

Minister of Foreign Affairs of Mongolia Batmunkhiin Battsetseg paid a working visit to China on May 1-2, 2023 at the invitation of a member of the State Council and Minister of Foreign Affairs of the People's Republic of China Qin Gang.

-Foreign Minister, how would you define the purpose and the significance of your visit to the PRC?

-One of the priority goals of our Government is to intensify cooperation in all sectors and at all levels, and bolster our comprehensive strategic partnership after the pandemic with one of Mongolia’s two neighbors, the PRC. The PRC has defined their new development goals and appointed a new generation of leaders at the 20th National Congress of the Communist Party of China in October, 2022, and its “Two Sessions” in March, 2023. The purpose of my visit was to promote bilateral relations and cooperation, and establish working relations with the PRC’s new generation of leaders. During my working visit to Beijing on May 1-2, I met and held official talks with PRC State Councilor and Foreign Minister Qin Gang, and exchanged views on a wide range of issues regarding Mongolia-China relations, and reached concrete agreements, which asserted to the importance of the visit.

It is important to maintain high-level mutual visits and meetings between our two countries, and both sides have been able to organize and maintain a frequency of such exchanges even during the difficult period of the pandemic.

One of the outcomes of my visit was that the two sides agreed to organize Prime Minister L.Oyun-Erdene’s official visit to the PRC in the near future.

-What were the concrete issues that were agreed?

-President of Mongolia Ukhnaagiin Khurelsukh paid a state visit to the PRC in November 2022, during which he met with President Xi Jinping. Both sides reached an agreement at the highest level on issues such as promoting and developing bilateral relations and cooperation in the new era. In order to significantly contribute to the nation’s development we are mainly focusing on putting these agreements into action.

One of the priorities of Mongolia’s foreign policy is to develop friendly relations with our two neighbors. China too attaches great importance to its relations and cooperation with Mongolia and considers Mongolia as its good neighbor, good friend and good partner. In this regard, the parties agreed to bolster political trust, mutually respect the fundamental interests of each other, and develop an ideal example of bilateral cooperation in the region.

The key area of Mongolia-China relations is cooperation in the field of trade, economy and investment. The goal is to increase trade between the two countries to USD 20 billion by 2027. Our bilateral trade reached 13.6 billion USD 2022, and USD 3.48 billion in the first quarter of this year.

During the meetings with the Chinese side issues such as increasing port capacity, and intensifying the works of connecting them by road and rail, which would facilitate the increase of trade volume were raised. For instance, outstanding issues such as revising the 1955 Railway Agreement, 2004 Agreement on Border Ports and their Regime, 2014 Agreement on Transit Transport, and adding Khangi-Mandal railway port into the Agreement on Border Ports, and accelerating the construction work of the railway at the Gashuunsukhait-Gantsmod border port were addressed.

-Since the beginning of this year, China began to ease the strict travel restrictions imposed during the pandemic and people have begun to travel again. The Government of Mongolia declared years 2023 through 2025 the "Years to Visit Mongolia.” Was there any discussion and talks made on receiving tourists from China to Mongolia?

-In order for people to obtain positive and accurate information and understanding of each other’s cultures, histories and livelihoods, we should encourage our people to travel and visit each other’s countries. The two sides have discussed and agreed to organize Mongolian-Chinese culture and tourism forum, to upgrade and improve the e-visa process for tourists, to increase the number of direct flights and to make promotional materials on Mongolia available in Chinese in order to further promote tourism between the two countries. The land and air travel between the two countries have resumed to normal. The international passenger trains will resume its operation starting this month. Moreover, the Embassy of Mongolia to the People’s Republic of China opened a new “Culture Center” this year, which aims to promote Mongolia in China, organizing many events and activities promoting Mongolia, especially to the children and youth.

-Spring season is the time of the year when the yellow sandstorms start in Beijing. Nowadays, environmental cooperation is increasingly becoming one of the most important topics to be discussed among countries within the bilateral cooperation framework. Have you discussed this issue with the Chinese counterparts? What is the current progress of other development cooperation projects?

-Under the “One Billion Trees” National Campaign initiated by the President of Mongolia, a joint project to establish a “Research Center to Combat Desertification” is being implemented. China has an extensive experience in combating desertification and re-forestation efforts and therefore, has agreed to implement the abovementioned joint-project. Mongolia will be organizing the 17th Conference of the Parties (COP17) of the United Nations Convention to Combat Desertification (UNCCD) in 2026 and China has agreed to cooperate with us in this regard as well.

The grants and concessional loans provided by the Government of the People’s Republic of China, significantly contribute in resolving pressing socio-economic issues in Mongolia. For instance, projects such as “Central Wastewater Treatment Plant of Ulaanbaatar City,” “Erdeneburen Hydropower Plant,” and “Underground Passageway” (which aims to reduce the Ulaanbaatar city traffic congestion) are being successfully implemented. In addition, the implementation of the joint-projects such as the “Grand Theatre of National Arts” and the “Presidential Sports and Training Center for Children and Youth,” which have been agreed upon during the President of Mongolia Mr. U. Khurelsukh’s state visit to People’s Republic of China, will commence this month.

-The PRC has become an active player on the international stage, and Chinese President Xi Jinping has announced three major initiatives: Global Security Initiative, Global Development Initiative, and Global Civilization Initiative. Does Mongolia support these initiatives?

-PRC President Xi Jinping proposed Global Development Initiative in 2019, the Global Security Initiative in 2022, and Global Civilization Initiative in 2023. These initiatives declare safeguarding humankind’s secure and peaceful life, sustainable development, diversity of civilizations, and promoting international cooperation in this regard as their primary objective. These are in line with our country’s foreign policy objectives and principles, and we are ready to exchange views and cooperate with the Chinese side in this direction.

Mongolia joined the Group of Friends to “Foster Global Development – Promote Stronger, Greener and Healthier Global Development for the 2030 Agenda for Sustainable Development,” established by the PRC last year at the UN.

During the “Dialogue with World Political Parties High-level Meeting” organized on March 15, PRC President Xi Jinping proposed the “Global Civilization Initiative,” stating, “We advocate the respect for the diversity of civilizations. Countries need to uphold the principles of equality, mutual learning, dialogue, and tolerance. Countries need to keep an open mind in appreciating the perceptions of values by different civilizations and refrain from imposing their own values or models on others and from stoking ideological confrontation. Countries need to fully harness the relevance of their histories and cultures to the present times and push for creative transformation and innovative development of their fine traditional cultures.” These statements are consistent, in essence, with Mongolia’s foreign relations, policy, and objectives concerning cultural and humanitarian issues.

-The value of civilization includes religious issues. These issues are also relevant to Mongolia-China relations. What is our official position on this matter?

-Religion is definitely a core value of culture. Mongolia and China are both Asian Buddhist countries. There have been cases in world history where religious issues have affected relations between countries. Our two countries have a comprehensive strategic partnership, and we have been able to reach a mutual understanding and resolve any conflicts through dialogue.

Our citizens’ right to freedom of religion and expression is ensured and protected by law. Moreover, the state and religion shall conduct their activities separately and not interfere in each other’s affairs as stipulated in the Constitution of Mongolia.

I would also like to emphasize that religious issues are subject to the internal affairs of both countries. Mongolia conducts its policies and activities on any religious issues independently and without external interference, as it should. We will independently resolve any religious matters, including identifying the head of traditional Buddhist in Mongolia, without any involvement from outside.

Nowadays, we have ample opportunity to train its lamas internally and enhance their capacities. This undoubtedly will help us pursue independent religious policy and develop Buddhism in Mongolia on our own.

-During the visit were issues related to international relations discussed?

-Apart from issues of bilateral relations and cooperation, regional and international topics of mutual interests were also discussed. Within the framework of intensifying Mongolia-Russia-China trilateral cooperation, both sides agreed to renew the central railway corridor, accelerate the construction of the natural gas pipeline from Russia to China through Mongolia’s territory, and the construction of the Altanbulag-Zamiin-Uud highway project.

Prime Minister L. Oyun-Erdene received Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China Chai Wenrui and exchanged views on bilateral relations and cooperation on May 8.

During the meeting, the parties discussed preparatory work for Prime Minister’s visit to China, improving the infrastructure of border ports of the two countries, intensifying the railway connection process, and cooperation in the tourism sector.

On the same day, the Prime Minister received Ambassador Extraordinary and Plenipotentiary of the Russian Federation to Mongolia Yevsikov Alexei Nikolaevich, congratulated him on his new assignment, and wished him success in his future endeavors.

Cooperating in border ports and the energy sector and implementing large and joint projects, specifically, investing in “Ulaanbaatar Railway” Mongolia-Russia Joint Venture Company to improve its performance were the main issues of the meeting.

The Prime Minister of Mongolia, L. Oyun-Erdene, presented the draft amendment to the Law on Regulation of Public and Private Interests and Prevention of Conflict of Interest in Public Service and addressed the Parliament session on May 4. We present the summarized transcript of his speech for your perusal.

As we gather today, we are reminded of our historical responsibility to rebuild trust in government and by protecting the reputation of the fundamental pillars of democratic governance - the legislative, executive, and judiciary powers. It is our duty to put an end to the mistakes and corruption of the past 30 years, to respect the interests of the people, to truly fulfill the right of citizen representation, and to usher in a new era of ethical leadership for the next 30 years.

We, as members of State Great Khural, belong to the people, and we must lead by example. Ethical, disciplined, and responsible leadership should begin with us, in this hall. If we cannot hold ourselves to the highest standards, how can we ask government officials and citizens to strictly follow the adopted laws and regulations?

The Government of Mongolia has declared 2023 as the "Year of Fighting Corruption". This includes exposing corruption crimes through “whistleblow” operation, wiping “parasites” from public offices through “wipe-out” operation, and bringing back overseas escapers through "WASP" operation. The "5W" program has also been implemented to "transfer" illegal funds hidden in offshore areas and foreign countries to ensure the transparency of Government institutions.

It is clear that the giant oak tree of systemic corruption, which have been rooted deep into the soil, will not collapse in the blink of an eye. Those who benefit from corruption will do everything in their power to protect their interests, by using false information and creating an organized system to protect against theft. We must be vigilant and persevere in the fight against corruption.

As information becomes more transparent and citizens become more informed, the corruption system will continue to crumble. We must do what is right, and the truth will prevail. This is the advantage of Democratic Government.

Under the framework of the New Revival Policy, an anti-corruption legal reform has been launched and during this spring session, we will discuss and approve the Law on the Legal Status of Whistleblowers, the Law on Judiciary, and the National Anti-Corruption Program and amendments to the Constitution, the Law on Regulation of Public and Private Interests in Public Service and the Prevention of Conflict of Interest, and the Code of Conduct for Civil Servants.

Today, the draft amendment to the Law on Regulation of Public and Private Interests in Public Service and Prevention of Conflict of Interest, have been submitted to the State Great Khural.

Upon the passage of this law, all high-ranking government officials including President of Mongolia, Speaker of the State Great Khural, Prime Minister of Mongolia, members of the Parliament and Government, Governors of aimags and the capital city, as well as their spouses, cohabitants, children and any related party will be prohibited from participating in any form of procurement activities funded by the government, state-owned companies, and international organizations' projects and programs, jointly implemented by the government during their tenure in office. Furthermore, they will be precluded from receiving any concessional loans, grants, or guarantees during their tenure in office, as the draft law stipulates.

In addition to the officials mentioned above, the prohibition clauses apply to chairperson of political party which holds seats in the State Great Khural, members of the Constitutional Court, the Chief of Justice and judges of the Supreme Court, the State Prosecutor General, members of the Civil Service Council, as well as heads and deputies of organizations that report to the Parliament and the Government, including the Bank of Mongolia, the General Election Committee, and the Anti-Corruption Agency, the Central Intelligence Agency, National Police Department, Customs General Administration, National Emergency Management Agency, General Department of Taxation. Other agencies covered by the law include General Authority of State Registration, General Authority for Social Insurance, the Civil Aviation Authority and the Mineral Resources Authority.

By passing this law, we will establish clear boundaries between politics and business, marking the point of an ethical boundary where the state and business operate detachedly. I am confident that this law will serve to prevent and protect many politicians and civil servants from potential corruption risks in the future. Going forward, we will engage in active public discussion to implement basic reforms for making public service efficient and "doing more with less" by transforming the recruitment of civil service, transferring state property and workforce to the private sector, and introducing a unified system for civil servant salaries that is based on their productivity and results.

Thank you for your attention to this matter.