Ulaanbaatar
Late social security payment penalties canceled
Society
Ulaanbaatar /MONTSAME/ In connection with the nationwide lockdown , the Mministry of Labor and Social Security developed a bill on cancellation of penalties for late payment of social security contributions due between October 1 and December 31, 2020.
The Parliament approved the bill at its plenary session on December 31, 2020. Some 10 thousand enterprises and businesses, which submitted their reporting on social insurance contributions, are estimated to be exempted from late payment penalties worth MNT30 billion.
