Other tax services

• Transfer pricing

Transactions within multinational companies are becoming increasingly important in business worldwide. All transactions among related parties are influenced by the Mongolian legal framework, which has recently become significantly stricter. For tax purposes, prices agreed between related parties have to meet the definition of arm’s length principle, and these prices are often subject to tax audits carried out by the Tax Authorities. The consequences of incorrect transfer pricing adjustments are tax exposure and penalties. In the case of companies receiving investment incentives, incorrect transfer pricing treatment can cause potential losses.
A specialized team of PwC tax professionals with expertise in both national and international tax law, combined with specific industry experience, can provide risk processing and benchmarking analyses enabling the determination of the prices for services and goods at arm’s length principle. We will help you to create a strategy and arrange the steps for transfer pricing and provide you with all documentation under the OECD directive.

• Assistance with the statutory tax audit

As governments seek to restore national finances, tax authorities come under pressure to increase tax revenues and tax audits are a key part of this. In Mongolia, a tax audit can be intimidating for the uninitiated. However, the audit process can be easier with proper preparation and the right advice.
PwC has experienced specialists with a long history of defending client’s interests during tax audits in Mongolia. We can offer you expert advice and practical support at all points throughout the tax audit and appeal process.

PwC can help you in the following ways:

  • Tax compliance review prior to tax audit (health check)
  • Tax authority procedural review
  • On-site assistance during tax audit, including document control support
  • Assistance in appeals process: identify/research arguments, draft appeals
  • Support throughout appeals processes