8.1.2. Other Taxes
The following table provides an overview of other taxes that may be imposed on a company doing business in the country.
| Tax Type | Rate(s) | Notes |
|---|---|---|
| Capital Duty | Nil | There is no capital duty in Mongolia. |
| Payroll Tax | 10% & 20% | Employers are required to withhold tax from the gross salaries of the employees at following rates: • Resident employees – 10% • Non-resident employees – 20% |
| Social Security Employer Contribution | 12% - 14% (for 2018) 12.5% - 14.5% (for 2019) 13.5% - 15.5% (for 2020) | Employers are required to contribute to following funds depending on the type of industry: • Pension – 8% • Health insurance – 2% • Benefit insurance – 1% • Unemployment insurance – 0.2% • Industry accident insurance – 0.8 to 2.8% |
| Social Security Employee Contribution | 11% (for 2018) 11.5% (for 2019) 12.5% (for 2020) | Employees are required to contribute 11% of their gross salaries for 2018 (upto maximum of MNT 240,000 per month) towards social insurance fund which is withheld by the employer. |
| Stamp Duty | Varies depending on the type of services or activity | Stamp duty is levied at varying rates depending on type of activities or services such as notary services, consulate services, state registration services etc. |
| Transfer Tax | Nil | There is no transfer tax in Mongolia. |
| Property Tax | 0.6% to 1% on value of the property | Property tax is levied on the owner annually on the value of the property. Property value is determined as per the registered value with the government authorities or insured value (if unregistered) or accounting value (other cases). The rate depends on the size and location of the property. |
| Customs Duty | 5% - 40% depending on the type of product | Custom duty is levied on goods imported into Mongolia and rate varies depending on the nature of the product. |
| Excise duty | Varies depending on the type of product | Excise duty is levied on goods manufactured in or imported into Mongolia such as tobacco, alcohol, gasoline, diesel fuel, passenger vehicles, equipment used for betting games etc. and rate varies based on the nature of the product. |
| Municipal Income Tax | Varies | Royalties are payable on the sale of minerals within Mongolia and abroad. The amount of royalty payable is based on a standard flat-rate royalty and a surtax on royalty depending on the type of commodity and the market price. |