Tax credits for education
A tax credit equal to the documented tuition payment should be granted to a taxpayer’s birth or adopted child who attends a domestic or foreign college, university, or vocational school.
This tax credit also should apply to a student attending college, university, or vocational school who has paid tax on income from employment during the course of study and who has also paid tuition fees.
Tax credits for growing certain products
Tax imposed on income earned by a resident of Mongolia who produces or grows the following products should be subject to a 50% tax credit:
- Potatoes and vegetables.
- Fodder plants.
- Tree seedlings.