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Corporate income tax of certain sectors to be 1 percent www.gogo.mn
According to the bill, a business with sales income of no more than MNT 1.5 billion will have a corporate income tax rate of one percent in the following sectors: food, clothing and textiles, construction materials, agriculture and livestock.
The government stated its goal is to ease the tax burden on small and medium-sized enterprises, hoping to create jobs in these sectors. Should parliament approve the bill developed by the government, it will take effect starting January 1.
Published Date:2016-12-28
