Mongolia

How are Giftcards treated for tax purposes in Mongolia (VAT, single-purpose / multi-purpose)? ›

Giftcards are subject to value added tax (VAT), which becomes due upon redemption. There is no distinction between single purpose and multi purpose Giftcards.

Is there a legal rule in Mongolia on the validity period of Giftcards? ›

In Mongolia there is no specific legal regulation on the validity period of Giftcards. Under the Civil Code, a general limitation period of three years applies. Merchants must clearly indicate expiry dates.

What consumer rights apply in Mongolia for expired Giftcards? ›

There are no specific rules for expired Giftcards. Merchants must clearly state expiry dates; otherwise, general consumer protection rules apply.

What special rules apply in Mongolia to the sale, issuance, or redemption of Giftcards? ›

The sale of Giftcards is permitted and increasingly digital. Providers of online Giftcards must comply with data protection and e commerce rules.