Individual - Deductions

Last reviewed - 19 June 2023

Employment expenses

There are no business deductions allowed for employees, except for a social insurance contribution made by an employee per Social Insurance Law of Mongolia.

Personal deductions

There are no deductions for non-business expenses in Mongolia. However, donations made for the purpose of rehabilitation of national cultural heritage can be deducted from taxable income.

Standard deductions

A general deduction of tax is available ranging from MNT 120,000 to MNT 240,000 annually based on the annual income. Where income is above MNT 36 million annually, no PIT credit is available.

Business deductions

An individual may claim business deductions if registered as an entrepreneur.