OVERVIEW Until recently, electronic money services activity in Mongolia has been carried out by non-bank financial institutions licensed by the Financial Regulatory Commission (the “FRC”) in accordance with the Regulation for Electronic Money Services by Non-Bank Financial Institutions adopted by the FRC. However, the regulatory framework for electronic money services activity has recently been revised and developed greatly in relation ...
In connection with the approval of state budget for year 2018, the Parliament of Mongolia adopted certain amendments to the General Tax Law, the Corporate Income Tax Law, the Personal Income Tax Law, the Minerals Law, the Land Law and the Legal Entities Registration Law on 9 and 10 November 2017. Pursuant to these amendments, share transfer transactions carried out ...
The Parliament of Mongolia has approved and appointed the candidates for the Cabinet of the new Prime Minister and appointed them as the new Cabinet members through its Resolution No.58 dated 20 October 2017. In terms of the structure and composition of the Government of Mongolia, it is same as the one adopted by the “Law on the Structure of ...
Law of Mongolia on Regulation and Prevention of Conflicts of Interest for Public Service enacted on 19 January 2012 (the “Law on Conflicts of Interest”) was amended on 13 April 2017 adding Article 101 which prohibits public officers who file their income or property declaration under Article 4.1 of the Anti-Corruption Law and their affiliates from holding bank accounts, owning ...
GTs is a Mongolian law firm with a simple mission: We help our clients to succeed. We champion our commitment to always hold ourselves to the highest ethical and professional standards.
- We work with diligence and accountability.
- We are courteous to our clients and all others with whom we work with.
- We are honest, passionate, and tolerant. Integrity is our binding principle.