Mongolia Tax Overview

Mongolian tax system at a glance

Mongolia taxes residents on worldwide income and non-residents on Mongolian-source income, administered by the Mongolian Tax Administration (MTA). The headline taxes are personal income tax, corporate income tax (CIT), VAT and social insurance.

• Tax year — Calendar year (1 January to 31 December) (General Taxation Law of Mongolia)
• Currency — Mongolian Tugrik (MNT) (Bank of Mongolia)
• Tax authority — Mongolian Tax Administration (MTA / Tatvaryn Yeronkhii Gazar) (General Taxation Law of Mongolia)
• Basis of taxation — Residents taxed on worldwide income; non-residents taxed only on Mongolian-source income (Corporate Income Tax Law; Personal Income Tax Law)
• Headline personal income tax rate — 10% progressing to 20% (top marginal rate) for residents; flat 20% for non-residents percent (Personal Income Tax Law of Mongolia)
• Headline corporate income tax rate — 10% on the first MNT 6 billion of taxable income; 25% on income above MNT 6 billion (1% small-business rate up to MNT 300m revenue) percent (Corporate Income Tax Law of Mongolia)
• Does VAT exist? — Yes — VAT applies at a standard rate of 10% (Value-Added Tax Law of Mongolia)
• Annual personal income tax filing deadline — 15 February of the following year (Personal Income Tax Law of Mongolia)
• Annual corporate income tax filing deadline — 10 February after the end of the tax year (Corporate Income Tax Law of Mongolia)
• VAT return filing/payment deadline — Monthly — by the 10th day of the following month (Value-Added Tax Law of Mongolia)