PKF-IFS Mongolia




Ulaanbaatar, May 9, 2023 /MONTSAME/. Taxation organizations collected MNT 9.3 trillion to the state and local budgets, exceeding by MNT 1.1 trillion the planned MNT 8.2 trillion, according to the 2022 Financial Report.


Head of General Department of Taxation B. Zayabal announced that tax revenue of MNT 10.1 trillion would be collected to the state budget in 2023 at the opening of Taxpayers' Days, annually organized by the Department.


The top 10 biggest taxpayers announced are as follows:


• "Erdenet PlantState-Owned Company leads with MNT 1.216.2 billion

• "Erdenes Tavantolgoi" JSC MNT 990.1 billion

• "Oyu Tolgoi" LLC MNT 439.9 billion

• "Energy Resources" LLC MNT 289.3 billion

• "Tavantolgoi" JSC MNT 261.6 billion

• APU JSC MNT 212.1 billion

• KHAAN Bank MNT 197.4 billion

• Golomt Bank LLC MNT 137.4 billion

• "COAL" LLC MNT 104.0 billion

• "Tsairt Mineral" LLC MNT 98.6 billion


Last year's performance shows that companies and enterprises engaged in mining, processing, financial and insurance sectors paid the most taxes.

Overseas and domestic operations of the Mongolian tax organizations have been fully transferred to the digital platform. This year's Taxpayers' Days will be celebrated under the slogan "Let's have service digitally," said Head of the General Department of Taxation B. Zayabal.


According to the tax revenue performance data for the first four months of this year compared to the same period of the last year, the tax revenue increased by MNT 1.5 trillion. The budget revenue plan and performance also exceeded by some MNT 1 trillion. This is directly related to the recovery of the mining industry and the volume of exports.



As for VAT revenue, internationally it accounts for 30-35 percent of the total budget revenue. In the countries of the European Union, it makes 33-34 percent while iMongolia, 24-27 percent of the total budget revenue is generated from VAT revenue. Last year, MNT 1.7 trillion was collected only from VAT. Approximately MNT 257 billion was spent on the two percent VAT refunds, some MNT 10 billion were allocated for prizes and lotteries, totaling MNT 270 billion.


While previously the General Department of Taxation used to announce the 10 biggest taxpayers, since last year it started to select the top 10 taxpayers in four categories, dividing taxpayers into the following four segments:


• 900 enterprises in the large segment,

• 300 enterprises in the medium segment,

• 30 thousand enterprises the small segment,

• 150,000 enterprises in the micro segment.


Yesterday General Department of Taxation announced the top 10 companies from four segments eachThe top 10 micro companies by activity profile represent wholesale and retail trade, information and communication, construction, administrative and support services, scientific and technical, housing and food service sectors


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