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April 21, 2020

ГАДААДЫН ХӨРӨНГӨ ОРУУЛАГЧ УУ? ЗАЛИЛАГЧ УУ?

Хөгжиж буй улс орнуудын иргэд, ялангуяа хөрөнгө санхүүгийн туршлага, мэдлэг дутмаг иргэд, хуулийн этгээдүүдийг онилж, хууран мэхлэх, залилах гэсэн үйлдэл байнга гардаг гэдгийг та бид бүгд мэднэ. Харин бизнес эрхлэгчид, хөрөнгө оруулалт хайсан компаниудыг онилсон хуурамч хөрөнгө оруулагч нарыг хэрхэн таньж мэдэх бэ? Эдгээр залилан хийх гэж буй этгээдүүдийг таньж мэдэхэд туслах боломжтой зарим нэг зөвлөгөө, анхаарах асуудлуудыг товч дурдъя. https://bit.ly/3bAxC14

Erdenedalai Odkhuu

April 21, 2020

UPDATE: OVERVIEW OF THE MONGOLIAN LEGAL SYSTEM AND LAWS

In cooperation with New York University, M&E’s article “Overview of the Mongolian Legal System and Laws” has been published at the website GlobaLex, an electronic legal publication dedicated to international and foreign law research. Please see the link below: https://www.nyulawglobal.org/globalex/Mongolia_Research1.html

April 21, 2020

PRIVATE INVESTMENT FUNDS IN MONGOLIA

As of spring 2017, Mongolia needs foreign and domestic investments more than ever. This is because Mongolia is on the verge of a severe economic crisis. Since 2012, Mongolian economic growth has decreased from 17.8% to 0.8%. The main causes of this economic crisis were fiscal indiscipline, weak rule of law, unnecessary and wrong political promises to gain or retain political powers. Furthermore, outside factors, such as falling commodity prices and China’s economic slowdown, accelerated the impact.

Erdenedalai Odkhuu

April 21, 2020

LEGISLATIVE UPDATE: MONGOLIAN TAX REFORM

The Parliament of Mongolia adopted the revised General Taxation Law (the “GTL”), the Law on Corporate Income Tax (the “CIT Law”) and the Law on Personal Income Tax (the “PIT Law”, together the “Taxation Package Laws”) on 22 March 2019, which became effective from 1 January 2020. In connection with these revised laws, approximately 23 laws were amended. Revised methodologies on valuation of minerals licenses and land rights for tax purposes were approved by the Ministry of Finance and officially published as of 20 January 2020.

April 21, 2020

LEGISLATIVE UPDATE: MONGOLIA AMENDS ITS RENEWABLE ENERGY LAW

The Parliament of Mongolia approved the amendments to the Renewable Energy Law (the “Amendments”) on 6 June 2019. The Amendments have now been published in the State Gazette, bringing it into force.

April 21, 2020

IMPACT OF THE FATF GREY LISTING ON FDI INTO MONGOLIA

In October 2019, the Financial Action Task Force (“FATF”) included Mongolia into its watchlist (the so called “Grey List”). From the outset, this could increase the concerns of investors around economic stability, smooth international transactions, and free flows of currency. If the Grey List status lasts for a significant length of time, this could develop into more serious problems, but we believe this status should be corrected within a short-term period and do not expect that it will have a material medium or long-term impact on FDI. Some of the potential short-term risks and the main points underpinning this are set out below.

April 21, 2020

OVERVIEW OF THE MONGOLIAN LEGAL SYSTEM AND LAWS

Since the establishment of the Mongol Empire in 1206, the development of the Mongolian legal system can be divided into four main historical stages: Mongol Empire Period — this is the period of the formation of the roots of Mongolian legal system. Chinggis Khan's Ikh Zasag Law, commonly known as Yassa, written sometime between 1206 and 1218, was for the most part a codification of the general principles of law already held by the tribes under his command.

Chris Melville and Erdenedalai Odkhuu

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