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Tax Act from Mongolian Tax Authority News provided by Share this article Share this article A Mongolian subsidiary of Kincora has received a Tax Act ( 2021 tax assessment ) for 2.7 billion MNT, approximately US$950,000, from the Mongolian Tax Authority ( MTA ) relating primarily to the 2016 merger with IBEX The 2016 IBEX merger required a tax assessment ( 2016 tax assessment ) as a condition precedent to closure and for reregistration of the merged entities The 2021 tax assessment is a retrospectively calculated liability and is not in-line with the 2016 tax assessment Three independent external legal opinions support Kincora s view that the 2016 tax assessment and merger transaction were properly formulated and supported by the Mongolian authorities at that time

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