Proposed changes to the Tax Laws
Mongolia • No. 02/2025 • March 2025
In brief
In accordance with the Government of Mongolia's Action Plan (for 2024-2028) to revise and improve tax legislation, the Ministry of Finance has drafted a reform of the Value Added Tax (VAT) Law, along with amendments to the General Tax Law (GTL), the Corporate Income Tax (CIT) Law, and the Personal Income Tax (PIT) Law. These draft laws have been published on the Ministry's official website. Public comments on these draft laws will be accepted until April 12, 2025. After incorporating public feedback and making necessary improvements, the drafts will be discussed by the Government of Mongolia and subsequently submitted to the Parliament for approval. The implementation of these laws is scheduled to commence on January 1, 2026.
This tax alert aims to provide you with a brief overview of the key amendments and changes included in these draft laws.
Key proposed changes include:
- Value Added Tax Law
- Corporate Income Tax Law
- General Tax Law
- Personal Income Tax Law
