Munkhnasan Narmandakh: “Under the pretext of budget strain, customs and tax authorities are freezing corporate accounts”
Munkhnasan Narmandakh, Chairman of the Board of Directors of Monpolymet Group, noted in an interview with iToim.mn that “businesses have begun reporting that, under the pretext of budget strain, customs and tax authorities are freezing corporate accounts, withdrawing funds without notice, and conducting one tax audit after another.”
The principal cause of the budget shortfall, she emphasized, is not that companies are failing to meet their tax obligations, but rather the government’s oversized bureaucracy, inefficient expenditure, and loss-making state-owned enterprises.
Ms. Munkhnasan further explained that "costs associated with state-owned enterprises, the bankruptcy of the health and social insurance funds, and the continuation of non-essential projects that should be reprioritized are the real factors weighing down the budget" were the underlying challenge.
AmCham Mongolia expresses its shared concerns and stands with its member companies against expropriation and any abuse of power.