Global VAT & Indirect Tax News

The Mongolian Government has submitted a comprehensive VAT reform package to Parliament, introducing major changes such as full deductibility of reverse‑charged VAT on foreign services, immediate deduction of capital expenditure VAT, a simplified regime for businesses below MNT 400 million, and a one‑to‑two‑month deferral of monthly VAT payments. The standard VAT rate remains 10%.