Mongolian Government’s emergency economic measures announced - News.MN

Mongolian Government’s emergency economic measures announced

Mongolian Government’s emergency economic measures announced

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.

  1. 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.
  2. Personal Income Taxes will be zeroed for individuals for six months from 1 April.
  3. Enterprises will get monthly bonuses of MNT 200 thousand for three months if it keeps jobs
  4. Loan package of three million with interest of 3 percent will be provided to herders.
  5. Monthly allowance for children under age 18 will be increased to MNT 30 thousand for three months.
  6. Fuel prices will be reduced by MNT 200-300 from 15 April.
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