According to the No.: 13.1.4 of Mongolian Law on Personal Income tax, interest on savings of individuals refers as a taxable income. On 25 October 2012, amendments made to No.: 16.1.16 of Mongolian Law on Personal Income tax, interest income on savings of Mongolian citizen other than interest income from demand deposit and time deposit for a year or less than year total amount of which exceed 100 million MNT exempted until 1 January 2016.
Therefore, starting from 1 January 2016, all kind of individual savings will be taxed at the rate of 10 percent accordance with No.: 23.1 of Mongolian Law on Personal Income tax.
However, income from Government securities trades through Mongolian Stock Exchange is tax free accordance with No.: 16.1.5 of Mongolian Law on Personal Income tax.

 

Marketing and Public Relations Department
MONGOLIAN STOCK EXCHANGE