BCM’S WORKING GROUP CHAIR AND VICE-CHAIRS:

Chair: Bayarsaikhan SOLONGOO, Managing Partner of Avinex Partners LLP
Vice-Chair: Regzedmaa KHISHIGNEMEKH, Director of International Tax Services, Ernst & Young TMZ LLC

BCM’s Vision:

To deliver value for the public, the members, and the employees by advocating economic freedom and property rights provided by the Constitution of Mongolia and protecting and promoting the common lawful interests of members for a fair, stable, and internationally competitive business environment.

BCM’s Mission for realizing the Vision:

• To equip members with an information platform that provides up-to-date policy and business research, training and knowledge sharing.
• To develop and promote economic and sector policy recommendations through engagement with the BCM members, the government and the wider public.
• To provide networking and other services that support doing business in Mongolia.

MISSION STATEMENT

To be Completed...

Overview of primary objective and responsibilities

The Legislative, Tax and Ethics Working Group (WG) primary objectives is to advocate for business-friendly regulatory environment and create platforms for existing BCM member companies to exchange their views and ideas on the existing regulatory and tax environment. The WG’s focus is also to promote transparent regulatory environment and fair business dealings.

The WG chairman will work closely with the BCM Chairman and Vice-Chairman to ensure WG outputs will be effectively coordinated / integrated into the BCM work program.

The WG will provide inputs to the BCM Exco and BCM secretariat to assist with: 

  • formal advocacy
  • partnership engagement
  • public education and media engagement
  • updates to BCM members

The WG Chairman is specifically responsible for:

  1. Highlighting “issues” to improve regulatory and tax environment, Mongolia’s competitiveness and attractiveness to investors.
  2. Respond to critical but unplanned developments impacting general regulatory and tax environment.
  3. Deliver bi-monthly progress report.
  4. Support Exco advocacy actions.
  5. Coordinating with other BCM working groups.
  6. Grow membership and WG credibility/professionalism.
The WG’s key focus areas will be divided into the following issues:  
  • Updates on legislative process and regulatory environment;
  • Issues concerning general tax environment and enforcement;
  • Ethics related matters.
Mongolia’s business environment can be prone to sudden and unexpected changes due to various reasons, including change in government policies. WG will focus on the proposed new laws and regulations and provide updates to its members. If the major legislation is proposed that would affect specific sector or general regulatory environment, WG will identify the issues concerning such proposed legislation and facilitate discussions among its members.
In relation to the tax environment, WG will mainly focus on enforcement related issues as the new draft tax laws will come into force from 1 January 2020. WG will facilitate identifying of issues concerning the implementation of tax laws and enforcement related matters and exchange of views and concerns raised by its members.

The WG will take a holistic approach, but initially focus its activities on the areas that are most critical to improve the general regulatory and tax environment for BCM members.

WG will identify the proposed draft laws that will be discussed during the spring session of Parliament. The priority is draft law on permits as it affects each business sector. A specific focus will be on improving the general regulatory environment and improving competitiveness of Mongolia’s regulatory environment.  In doing so, WG will need to coordinate its work with other working groups of BCM.

Regarding the tax environment, implementing regulations under the newly approved tax laws will be focus and will facilitate discussions with the Ministry of Finance and General Taxation Authority.

WG will focus on updating its members on the proposed draft law and regulations, implementation of the new tax laws and other matters concerning these subject matters. In doing so, WG will work with the BCM Secretariat and other working groups in creating the following key documents and papers:

  • Legislative updates
  • Summary of proposed draft laws and regulations
  • Advocacy documents

WORKING GROUP NEWS

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