The General Department of Taxation is reviewing and verifying citizens’ information to provide VAT refunds for the fourth quarter of 2020, and it is estimated that MNT 43.7 billion will be refunded to 1,184,314 citizens.
In the third quarter, MNT 43.4 billion was returned to 993,469 citizens.
Citizens ebarimt After review of whether the provisions of Article 5.1 of the information registered with the VAT system, tax administration and work within two days, there are procedures to transfer to the Ministry of Finance.
The Ministry of Finance transfers funds to a special Treasury refund account within 20 business days. After that, the Treasury transfers to the citizens’ accounts within three working days.