Monthly advance payment by the 25 th of each month is required per Economic Entity and Organization Income Tax Law Article 8.2. All kinds of bonuses, pensions, donations, gifts, subscription to publications, housing granted to employees, transport, meals and fuel, interest on past due loans, penalties, and damages caused by the taxpayer are not deductible from taxable income. Effective January 1, 2001. Annual return by the 10th of February of the next year. Filings done by Employer.
Residents are taxable on all income within and outside Mongolia.
To be withheld and remitted to the Tax Department by the Employer. Effective January 1, 2001. Withholding Tax Personnel Income Tax Law, Article No. Quarterly return by the 20th of the first month in the next quarter. Annual return by the 10th of February of the next year.