DP faction does not back bill submitted by MP

Ulaanbaatar /MONTSAME/ The Democratic Party’s (DP) faction has not backed a draft law on VAT initiated by S.Byambatsogt MP. It was reported by S.Odondtuya, a deputy chairwoman of the DP faction; and A.Bakei MP at its regular meeting on Monday. “Although parliament is making a friendly environment for big entities, the legislative body now should discuss the draft law which aims to support small- and middle-sized enterprisers by setting the VAT threshold at MNT 200 million,” S.Byambatsogt said about its purpose. The DP faction explained the bill violates principles of the Constitution because any draft law on budget matter shall be initiated and submitted by the government not by MP. “Changing VAT size is a matter belonged to the cabinet, so it is not possible to back it, but we are ready to back the same bill formulated by the cabinet,” the faction members said. The same day, the faction backed a bill on joint pension that will be discussed this week at a plenary meeting of the parliamentary session.