Tremendous mineral reserves, agricultural endowments, and proximity to Asia’s vast markets make Mongolia an attractive destination for medium to long-term foreign direct investment (FDI). The Gross Domestic Product (GDP) in Mongolia is worth 10.4 billion US dollars as of September 2021 according to the national statistics of Mongolia. The GDP value of Mongolia represents 0.01 percent of the world economy.
Recent updates on the Stock Corporation Act in Switzerland
From January 1, 2023, more flexible formation and capital regulations will apply to stock corporations. At its meeting on February 2, 2022, the Swiss Federal Council enacted the corresponding amendments to the Code of Obligations (CO) and the Commercial Registry Ordinance (HRegV).
Agreement to improve international tax compliance
At present, the Parliament of the Republic of Kazakhstan considers a law on ratification of the Agreement between the Government of the Republic of Kazakhstan and the Government of the United States of America to improve international tax compliance dated 11 September 2017
From January 1, 2022, the property tax rate for legal entities has decreased from 2% to 1.5%, but there have been set minimum limits for the value of buildings for calculating property tax of legal entities in absolute terms in the following amounts per 1 sq. m
Since 2022, it has been established that individual entrepreneurs providing services can apply the SST only in limited cases under the law. For example, tourism activities; health care activities; catering services; activities in the field of computer programming. Consequently, individual entrepreneurs providing other types of services (for example, advertising services, consulting services, leasing property) are not entitled to apply the SST and are required to pay income tax. If the individual entrepreneur performs works, then the SST can be applied without restrictions.