MEC Faces Audit Disclaimer Amid Tax Dispute and Payment Delays
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Mongolia Energy Corporation Limited (MEC) is addressing an audit disclaimer for the year ended March 2025. MEC plans to resolve the issue by settling royalty tax payables for 2022 and 2023 with the Mongolian Tax Authority. Additionally, MEC's subsidiary MoEnCo is contesting a reassessment tax of MNT 412.3 billion for 2017-2020 and has initiated legal proceedings against the Tax Dispute Resolution Council in Mongolia. MEC is committed to resolving these issues and updating shareholders on developments.
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