The Law on Tourism was approved in May 2023. In accordance with the amendments made to this law, the Law on VAT has been amended.
Today’s cabinet meeting approved the procedure related to the refund of VAT paid for goods purchased by tourists on the territory of Mongolia. There are more than 160 countries with VAT systems in the world. And Mongolia is the 73rd country to refund VAT to tourists.
By doing this, the competitiveness of our country in the regional tourism sector will increase. It is considered that it will have a good effect on attracting tourists and promoting purchases, especially on the sale of brand products, wool and cashmere products of Mongolia.
All types of goods except those exempted from VAT are eligible for refund (tax-paying drugs, pharmaceutical products, alcoholic beverages). Starting from January 1, 2024, duty free shops must be registered and entitled to shop for duty free goods.
The Law on Tourism was approved in May 2023. In accordance with the amendments made to this law, the Law on VAT has been amended.
Today’s cabinet meeting approved the procedure related to the refund of VAT paid for goods purchased by tourists on the territory of Mongolia. There are more than 160 countries with VAT systems in the world. And Mongolia is the 73rd country to refund VAT to tourists.
By doing this, the competitiveness of our country in the regional tourism sector will increase. It is considered that it will have a good effect on attracting tourists and promoting purchases, especially on the sale of brand products, wool and cashmere products of Mongolia.
All types of goods except those exempted from VAT are eligible for refund (tax-paying drugs, pharmaceutical products, alcoholic beverages). Starting from January 1, 2024, duty free shops must be registered and entitled to shop for duty free goods.