Significant changes to the tax and customs laws
On 14 April 2017, the Parliament of Mongolia passed an economic stimulus law that makes a number of important changes to the tax and customs laws.
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New transfer pricing rules in Mongolia
The Ministry of Finance and the Mongolian Tax Administration (“MTA”) have developed regulations strengthening the current transfer pricing (“TP”) rules.
Deadline is introduced for putting VAT invoices in the electronic VAT system
Recently the tax authorities informed about its decision to introduce a deadline for issuing VAT invoices in the VAT electronic system www.ebarimt.mn
Minimum monthly wage increases in 2017
According to the Resolution of Minister of Labour dated April 20, 2016, the minimum wage level will be increased to MNT 240,000 per month effective from 1 January 2017.
Quota for foreign employees in 2017
The Government of Mongolia sets a foreign worker quota (annually updated), for both locally owned and foreign invested companies operating in Mongolia. For 2017, the Government issued an updated Resolution # 137 dated 9 November 2017.
Taxation of Foreign Individuals in Mongolia - 2017
As the individual’s tax filing deadline is approaching, we would like to present overview of the tax issues applicable to foreign individuals staying in Mongolia. If you have any questions regarding this issue, please contact us to discuss.
The draft law On Amending the Budget Projection
The Ministry of Finance have developedthe draft law On Amending the Budget Projection (the “Draft law”) and submitted it to the Parliament on 23th August 2016. This Draft law introduces a number of changes to the tax and social health and insurance legislation which are aimed at increasing the budget revenues and decreasing the expenses.
Anticipated new transfer pricing rules in Mongolia
The Ministry of Finance and the National Tax Administration (NTA) have developed a number of draft regulations strengthening the current transfer pricing (“TP”) rules.
