Tax Workshop Held, UB Post, May 8, 2008

Thursday, 08 May 2008 20:25

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Tax Workshop Held

With increased foreign investment flowing into Mongolia, members of the local business
community were this week given an insight into the international taxation policies from
a foreign perspective.
The tax workshop, held in UB, involved 90 members of the Mongolian Business Council,
made up of people from domestic and foreign invested companies, diplomatic missions
and NGOs.
Price Waterhouse Coopers, one of the world’s top global accounting and tax firms, and
the Business Council of Mongolia (BCM) hosted the ‘International Tax Issues Related to
Inbound Investments’ workshop at the Khan Bank Theater.
The bilingual workshop was headed by Tomas Balco, a senior manager from Price
Waterhouse Coopers based in Almaty, Kazakhstan. Balco is a renowned specialist on
International Taxation and provides international and domestic tax advice related to the
structuring of inbound and outbound investments to and from Central Asia and
Mongolia.
The free workshop was an opportunity for BCM members to develop or deepen their
understanding of the underlying principles of International Taxation and to examine
them from the perspective of a foreign investor.
Such events are extremely valuable and should be held more often, according to D.
Hulan, Executive Vice President of Tavan Bogd Group. “Our accountants have highly
praised the seminar due to two reasons,” she said. “One, they had a good exposure to
international tax systems relevant to issues comparatively new for Mongolia, such as
taxing of dividends and capital gains at the time of IPO. Second, they have benefited
from the fact that the seminar was bilingual and they could pick up the English words
used in accounting.”

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