INTRODUCTION
Mongolia is a landlocked unitary sovereign state in East Asia. Mongolia is the 18th largest and the most sparsely populated fully sovereign country in the world. It is located between China and Russia. The economic activities in Mongolia are agriculture, mining, wholesale and retail trade and services, transportation and storage, and real estate activities. The capital of Mongolia is Ulaanbaatar.
The currency of Mongolia is Mongolian Tögrög / Mongolian Tughrik (MNT).
Abbreviations:
| BEFI | Business Entity with Foreign Investment. |
| CIT | Corporate Income Tax |
| FTZ | Free Trade Zone |
| JSC | Joint Stock Company |
| LERO | Legal Entities Registration Office |
| LLC | Limited Liability Company |
| MCTA | Mongolia Customs and Tariff |
| MNT | Mongolian Tughrik |
| MTA | Mongolian Tax Authority |
| PE | Permanent Establishment |
| PIT | Personal Income Tax |
| TP | Transfer Pricing |
| VAT | Value Added Tax |
| WHT | Withholding Tax |