Mongolia

Personal income tax (PIT) rates

To align with international tax standards and mitigate income disparity, the Parliament has sanctioned the implementation of a progressive PIT rate. This rate, applicable to salaries, wages, equivalent income, and indirect income, took effect from 1 January 2023.

Minimum wage

In accordance with Resolution No. 3, dated 7 October 2024, issued by the National Tripartite Committee on Labour and Social Consensus, the minimum wage has changed to 4,714 Mongolian tugrik (MNT) per hour or MNT 792,000 per month effective as of 1 April 2025.

Social insurance

On 7 July 2023, the Parliament of Mongolia passed the General Law on Social Insurance (GLSI), which will replace the existing Law on Social Insurance (1994) effective as of 1 January 2024. Significant changes are related to the social insurance rates and scope, specifically the reduction of the rate for industrial accidents and occupational diseases and increase of the rate for unemployment. 

The monthly cap of the employee’s social insurance contribution has changed to MNT 910,800 effective as of 1 April 2025.