Earlier today (20 April), Mongolian Finance Minister Ch.Khurelbaatar made a statement to clear up some public misunderstandings over social tax exemptions for six months. According to his statement, almost all companies in Mongolia, including those experiencing even a slight decline or decrease of 1 MNT in their revenue, are free from paying social insurance contributions until 1 October.

Minister Ch.Khurelbaatar added: ‘There are 108.800 tax-paying entities in Mongolia; 99.99 percent of them are believed to be facing revenue loss and will benefit from tax exemption. The remaining 0.01 percent are gold companies, whose revenue are considered to be not affected by the COVID-19 global pandemic’.