According to a package Law on Tax, which was adopted in 2019 within the Government’s ‘Tax reform’, citizens will benefit from various types of preference and support starting from January 1, 2020. It includes:
• Persons with disabilities will be fully exempted from Personal Income Tax.
• VAT incentives will be given back to citizens quarterly.
• Citizens, who are running business in remoted aimags will receive tax incentives up to 90 percent from personal income tax.
• An individual, who is purchasing an apartment for the first time will take back tax worth MNT 6 million.
• Private entrepreneurs will report and pay their taxes under eased conditions.
• Double tax will not be levied on income which paid tax in foreign countries.