The tax laws in Mongolia were updated to deal with the new market economy following the withdrawal of the former Soviet Union in the early 1990s. Today’s tax landscape is experiencing change as policymakers seek to protect strategic assets without deterring foreign investment. One area of recent focus has been double tax treaties, about which...
Tax
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Interviews & Viewpoints | Christian Pellone, Head of Tax, Ernst & Young Mongolia, on recent developments in corporate tax law from The Report: Mongolia 2013
Over the past four decades, Dubai has become one of the most important economic centres in the Middle East and a key destination for investors, tourists and corporations from around the world. The emirate boasts a diversified economy, an open business environment, and a multinational population and workforce, all of which have contributed to its reputation as a leading investment destination.
While a significant nomadic population still pushes its herds across the steppe, young adults in Ulaanbaatar use fibre-optic networks to access the internet. Heir to the legacy of Chinggis Khan, Mongolia is fast emerging as a land rich with economic potential – a country that is seeking growth while also working to preserve its unique national culture.
Currently, Mongolian legislation allows for several forms of business entities, which include joint stock, joint venture and limited liability companies. Economic and business activities in Mongolia are regulated by a variety of laws, including the Law on Foreign Investment of 1993 and the Company Law of 1999. To establish a registered presence in Mongolia, foreign companies may also choose to...
Interviews & Viewpoints | Nasser Said Al Mughairy, Managing Partner, Abu Timam Grant Thornton, on fostering new businesses from The Report: Oman 2013
Small and medium-sized enterprises (SMEs) are the backbone of most global economies. Although the exact parameters vary by country, SMEs are non-subsidiary, independent firms, which employ fewer than a given number of employees. Under the EU definition, an SME is considered as an enterprise with up to 250 employees and turnover of no more than €50m or a total balance...
Articles & Analysis | Clear guidelines: New tax regulations were issued at the start of 2012 from The Report: Oman 2013
Foreign firms and individual investors can set up business in Oman using one of the following forms: