The presentation of the tax reform package took place in parliament.
At its last meeting, the government decided to present a new tax reform package to parliament, which includes changes to tax laws, including the General Tax Law, the Corporate Income Tax Law, the Personal Income Tax Law, and the VAT Law.
The aim of the reforms is to promote economic development, as well as to protect citizens' incomes and support jobs, including through the development of housing construction. According to the new proposals, citizens will be able to receive VAT refunds: full refunds for expenses up to ₮500,000 per month, 50 percent for amounts up to ₮1 million, and 20 percent for amounts exceeding this limit. Full refunds of income tax will also be provided to employees whose salaries are at or below the minimum level or a maximum of ₮500,000 per month.
In addition, the bill proposes simplifying taxation and increasing its fairness. The threshold for declaring business income will be raised to ₮400 million, and some taxpayers will receive additional tax benefits. Citizens moving from Ulaanbaatar to the regions, as well as those investing in energy-efficient and environmentally friendly buildings, will be able to take advantage of tax benefits up to ₮15 million.
Changes in corporate taxation include a reduction in the profit tax rate, as well as an increase in the threshold for the 25 percent rate from ₮6 billion to ₮10 billion. The profit tax for incomes from ₮6 billion to ₮10 billion will also be reduced to 15 percent.
Support for small and medium-sized enterprises (SMEs) includes raising the threshold for the one percent tax from ₮1.5 billion to ₮2.5 billion for three years, as well as simplifying the VAT payment procedure for companies with annual income of less than ₮400 million. Enterprises will also be able to deduct expenses for employee training and development, as well as claim VAT refunds on certain purchases and international services.
The new reform package emphasizes support for taxpayers and transparency. Included measures provide for the provision of pre-prepared tax reports, consulting services, training both online and in-person, as well as 24/7 access to an artificial intelligence-based information system.
Tax authorities will monitor compliance with legislation, providing opportunities to correct mistakes and agree on flexible payment schedules for conscientious taxpayers.
In case of financial difficulties, taxpayers can expect a freeze of up to 80 percent of their bank accounts, which will help preserve their business. In 2025, the government and the parliamentary working group conducted extensive consultations with the public, receiving about 180,000 proposals from more than 13,000 citizens and organizations, of which more than half concerned tax reductions, tax exemptions, and tax deductions.
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