Wednesday - Tax consultation day. About 50 Mongolian / Joint Venture / Foreign Owned companies were invited to present to Mongolia's Senior Tax Officials to say what we thought of the Mongolian Tax System. We realised we are "small fry" in a big pond but were given the opportunity to speak for 10 minutes very early on in the meeting. We were the only fully foreign owned company to speak and ....
We were able to introduce the idea of Fair Trade and Social Enterprise - both basically new concepts to the Mongolian business environment. We are just very grateful that our Tax District "Bayanzurkh" chose us to represent their district.
We asked what we thought to be a few minor questions in relation to "stamped" receipts, and their validity, trying to extract VAT receipts from 80% of businesses and how we could cut down on the masses of paperwork involved in tax returns. To our amazement it set off a kind of chain reaction - we were not alone and seemed to have hit on sore points most companies had in relation to tax business.
During the session we were called out of the room by officials and were surprised it was so that a TV station could interview us - to find out more about our company and our views on the tax system. We have been blessed today with wonderful opportunities to highlight Fair Trade and Social Enterprise ahead of World Fair Trade Day on Saturday 14th May.
We are still amazed that being so small we were still selected to attend.