SMEs to have tax discount

Oyundelger 2016-10-28 02:10

Economy

The Parliament is running the first reading of the draft amendments to the Law on Income Tax on Entities.

SMEs to have tax discount. The Parliament is running the first reading of the draft amendments to the Law on Income Tax on Entities. The amendments suggest reducing the tax rate for companies with annual sales income of less than US$63 million, by 90 percent. Thereby, this applies to the companies engaged in food, clothing, textile and construction materials productions, land-farming and animal husbandry. When adopted, the amendments will enable these companies to enjoy the tax discount between 2017 and 2021.