There have been reports that 80 billion MNT has been allocated in the 2017 state budget for distribution of VAT tax refunds.

The VAT Tax Law was approved by the previous government and came into effect on January 2016, allowing taxpayers to receive a 20 percent refund on VAT taxes paid and to take part in a lottery.

In the first ten months of 2016, 25.4 billion MNT in refunds have been calculated for 456,611 taxpayers. The refunds are scheduled to be paid by the first quarter of 2017. VAT tax refunds will be paid annually, with 2016 refunds being paid in 2017.

A VAT lottery is conducted monthly with more immediate payment for lottery winners. Tax-
payers calculate the taxes paid on their purchases by scanning the QR code appearing on all sales receipts, and they can monitor the refund amount that is due.

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