Significant changes to the tax and customs laws
May 31, 2017
On 14 April 2017, the Parliament of Mongolia passed an economic stimulus law that makes a number of important changes to the tax and customs laws.
The final text of the law was published on 28 April 2017. The major issues include the following:
- Personal income tax
- Employment income is taxable at the rate of 10, 15, 20 or 25%, depending on the income level:
| Breaks | Annual salary (MNT) | Applicable tax rate for annual income (MNT) |
| 1 | <18 million | 10% |
| 2 | 18 million-30 million | 1,800,000 + 15% of the annual income exceeding 18 million |
| 3 | 30 million -42 million | 3,600,000 + 20% of the annual income exceeding 30 million |
| 4 | > 42 million | 6,000,000 + 25% of the annual income exceeding 42 million |
Follow us
