Tax increases for personal income tax waived www.gogo.mn
Prime Minister U. Khurelsukh reported on his first 100 days in office on January 29, joined by members of his Cabinet.
Minister of Finance Ch. Khurelbatar said, “It is the fifth day of meeting with the International Monetary Fund working group. We reached an agreement on waiving personal income tax increases at all levels. We are now working on making amendments to the Law on General Taxation, along with Law on Corporate Income Tax and the Law on Personal Income Tax.”
The premier noted that the government will grant reimbursement for January tax increases that were paid. He added, “We will give the public an opportunity for men to voluntarily retire at age 60 and at age 55 for women. It has been decided that the retirement age will be extended by three months per year.”