During its regular session, Cabinet voted to pursue joining the Organization for Economic Co-operation and Development’s (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes and Base Erosion and Profit Shifting (BEPS).
Ministers have been instructed to study on joining the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS and the Convention on Mutual Administrative Assistance in Tax Matters of the OECD.
Finance Minister Ch. Khurelbaatar and Governor of the Bank of Mongolia N. Bayartsaikhan will be responsible for overseeing the creation of a legislative environment for the tax implications of the exchange of consumer information among banks.
The Finance Minister has been instructed to introduce amendments to tax laws within the first quarter of 2018. Analysts believe that Mongolia’s inclusion on the European Union's tax haven blacklist can be linked to Mongolia not joining the Global Forum on Transparency and Exchange of Information for Tax Purposes, and not signing related treaties.
During its regular session, Cabinet voted to pursue joining the Organization for Economic Co-operation and Development’s (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes and Base Erosion and Profit Shifting (BEPS).
Ministers have been instructed to study on joining the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent BEPS and the Convention on Mutual Administrative Assistance in Tax Matters of the OECD.
Finance Minister Ch. Khurelbaatar and Governor of the Bank of Mongolia N. Bayartsaikhan will be responsible for overseeing the creation of a legislative environment for the tax implications of the exchange of consumer information among banks.
The Finance Minister has been instructed to introduce amendments to tax laws within the first quarter of 2018. Analysts believe that Mongolia’s inclusion on the European Union's tax haven blacklist can be linked to Mongolia not joining the Global Forum on Transparency and Exchange of Information for Tax Purposes, and not signing related treaties.