New Law and Regulations that will become effective from 1 January 2020
7th, January 2020, Ulaanbaatar city.
- Amendment of the Package tax laws of Mongolia came into force
Package tax laws of Mongolia namely Law of Mongolia on General Taxiation, the Corporate Income Tax Law, Personal Income Tax Law and Value Added Tax Law came into force from 1 January 2020. The General Tax Authority of Mongolia deems that the package laws will encourage taxpayers’ including legal entities and it results in broadening tax income sources. Next time, we will inform you regarding features of this amendment to the package tax laws in detail.
- Amendment to Law of Mongolia on Health Insurance
- All children will be provided child allowance
- 1-5 grade students to have mid-day meal
The State Great Khural has nullified some provisions of the Law of Mongolia on Elementary and Secondary Education, therefore, 1-5 grade students of secondary education school will having a mid-day meal from the academic year of 2021-2022.
- The National minimum wage of Mongolia increases to 420,000 MNT
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