Mongolian Prime Minister U.Khurelsukh held a press conference at 3.00 p.m. in order to outline the decisions made by Cabinet at the meeting today (27 March). Cabinet has approved a MNT 5.1 trillion financial support package for enterprises and Mongolian citizens suffering the economic impact of the coronavirus pandemic.
- Social Insurance Taxes and Income Taxes will be zeroed for enterprises from 1 April until 1 October. Enterprises will not pay taxes from revenues if it has monthly income less than MNT 1.5 billion.
- Personal Income Taxes will be zeroed for individuals for six months from 1 April.
- Enterprises will get monthly bonuses of MNT 200 thousand for three months if it keeps jobs
- Loan package of three million with interest of 3 percent will be provided to herders.
- Monthly allowance for children under age 18 will be increased to MNT 30 thousand for three months.
- Fuel prices will be reduced by MNT 200-300 from 15 April.