Ulaanbaatar
VAT refunds worth MNT 139 billion to be distributed
Economy
Ulaanbaatar /MONTSAME/ This year, more than 900 thousand citizens will be receiving Value-Added Tax (VAT) refunds worth MNT 139 billion for their purchases made in 2019.
The reimbursement of up to 20 percent of VAT for the purchases of 2019 will be issued within February 2020.
In compliance with the VAT Law of Mongolia, consumers receive up to 20 percent refund for their purchased services and goods in a given year. Receipts issued before midnight on December 31, 2019 must be registered within January 8, 2020.
Moreover, starting this year, VAT refunds will be distributed on a quarterly basis, within 45 days after the end of a quarter.
