Secondary regulations issued for the implementation of the tax reform

Mongolia • Issue 03/2020 •  April 2020

The Parliament of Mongolia passed the revisions to the General Tax Law, the Corporate Income Tax Law, the Value Added Tax Law and the Personal Income Tax Law on 22 March 2019. These new tax laws are effective from 1 January 2020.

In order to implement the new tax laws, the state authorities were obliged to issue a number of new secondary regulations.

Herewith, we are introducing these secondary regulations issued by the Cabinet, the Ministry of Finance (MOF) and the General Department Taxation (GDT) as of now.

The aim of these secondary regulations is to provide more detailed rules for many provisions in the tax reform (which still remain quite general or unclear in many instances) and /or to give a practical guidance on how some of those provisions should be implemented. For example, more clarification and guidelines are given in such areas as transfer pricing methods and adjustments, implementation of general anti-avoidance rules, etc.

Please refer to the next pages for a list of the approved secondary regulations.

Should you have further inquiries and questions in relation to these new regulations, please do not hesitate to contact us.

Contact us

Tsendmaa Choijamts

Director, Tax and Legal services, PwC Mongolia

Tel: +976 70009089

Maryna Tarnavska

Senior Manager, Tax and Legal services, PwC Mongolia

Tel: +976 70009089

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