MONGOLIA ENERGY(00276.HK): Loses Hearing on Mongolian Tax Dispute, Involving HK$903 Million in Tax Liabilities
MONGOLIA ENERGY announced the hearing result of the Mongolian tax dispute involving its subsidiary MoEnCo. At the hearing held on January 5, the Mongolian Administrative Court made an oral judgment in favor of the Tax Dispute Resolution Committee and dismissed MoEnCo’s claim. The dispute involves a reassessed tax amount of 412.3 billion Mongolian Tugrik (approximately HK$903 million) for the tax period from 2017 to 2020.
NewTimeSpace News: MONGOLIA ENERGY (00276.HK) announced the latest hearing progress of the Mongolian tax dispute involving its subsidiary MoEnCo on January 9, 2026. As reviewed in the announcement, the core dispute arises from a ruling by the Mongolian Tax Dispute Resolution Committee, which requires MoEnCo to pay an additional reassessed tax totaling 412.3 billion Mongolian Tugrik, equivalent to approximately HK$903 million, for the tax period from 2017 to 2020. In response, MoEnCo filed a claim with the Mongolian Administrative Court and attended the hearing on January 5, 2026.
It is reported that the hearing lasted only one day, and the Mongolian Administrative Court delivered an oral judgment on the spot, ruling in favor of the Tax Dispute Resolution Committee and dismissing MoEnCo’s relevant claim.
Regarding the judgment result, MONGOLIA ENERGY stated that MoEnCo has the right to appeal within 14 days from the date of receiving the written judgment. Currently, the group is actively seeking legal advice and considering appealing against the judgment.
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