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Economy

SIF and Tax exemptions will continue until 2021

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E.Oyun-Erdene
2020-08-06
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SIF and Tax exemptions will continue until 2021

The regular cabinet meeting was held this morning. The Minister of Finance Ch. Khurelbaatar has made a report on decisions from the meeting. Children allowance of MNT 100 thousand will continue until 2021. 

The Prime Minister also gave instruction to continue the social insurance fee and corporate income tax exemptions that support companies.

Social insurance fee is set at 5 percent from employers, 5 percent from employees, and a total of 10 percent. An additional 144 billion MNT will be allocated from the state budget.

If the annual sales revenue is 1.5 billion MNT or less, corporate income tax will be zero until the end of the year. This will cover 105 thousand enterprises. And the decision to cancel the CIT of enterprises that reduced their rent will continue.

The regular cabinet meeting was held this morning. The Minister of Finance Ch. Khurelbaatar has made a report on decisions from the meeting. Children allowance of MNT 100 thousand will continue until 2021. 

The Prime Minister also gave instruction to continue the social insurance fee and corporate income tax exemptions that support companies.

Social insurance fee is set at 5 percent from employers, 5 percent from employees, and a total of 10 percent. An additional 144 billion MNT will be allocated from the state budget.

If the annual sales revenue is 1.5 billion MNT or less, corporate income tax will be zero until the end of the year. This will cover 105 thousand enterprises. And the decision to cancel the CIT of enterprises that reduced their rent will continue.

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E.Oyun-Erdene
Category
Economy
Published
2020-08-06


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