Mongolia Energy Corporation Faces Audit Disclaimer, Initiates Action Plan to Resolve Tax Disputes
Reuters
Sep 11
<a href="https://laohu8.com/S/00276">Mongolia Energy</a> Corporation Faces Audit Disclaimer, Initiates Action Plan to Resolve Tax Disputes
Mongolia Energy Corporation Limited $(MEC)$, a company listed on the Hong Kong Stock Exchange, has announced an update on its ongoing efforts to resolve a Disclaimer of Audit Opinion. The company has been actively implementing an Action Plan to address tax disputes in Mongolia. Recently, MoEnCo, a subsidiary of MEC, filed legal claims with the Administrative Court of Mongolia to annul a reassessment tax amounting to MNT 412.3 billion for the years 2017 to 2020. Concurrently, MoEnCo has agreed to a settlement with the Mongolian Tax Authority for royalty tax payables for 2022 and 2023, amounting to MNT 120.8 billion, to be paid in instalments. The company's senior management has been engaging with government officials in China and Mongolia to seek resolution and support. MEC remains committed to keeping its shareholders informed as the situation progresses.
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