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Mongolia: Tax developments in response to COVID-19

General Information

This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).

The content will be updated regularly. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.

Date accurate as of: 24 June 2020

On March 27, a comprehensive set of fiscal measures for consideration has been proposed by the cabinet to protect vulnerable household and businesses and to support the economy. These include: 

  • tax exemptions on several imported food and medical items; 
  • increase of child allowance and unemployment benefits; 
  • exemptions on CIT, PIT, and social security contributions until the end of September; and 
  • an increase in credit guarantees to SMEs and soft loans from the development bank to cashmere producers. 

On April 13, Parliament approved the tax exemption measures as proposed by the cabinet.