In 2019, the total tax rate as a share of profits for medium sized businesses in Mongolia increased by one percentage points (+4.05 percent) compared to 2018. Therefore, the share in Mongolia reached a peak in 2019 with 25.7 percent. The total tax rate measures the amount of taxes and mandatory contributions payable by businesses, minus allowable deductions and exemptions, as a share of commercial profits. Taxes withheld (such as personal income tax) or collected and remitted to tax authorities (such as value-added, sales, or goods and service taxes) are excluded.
As per the source, the total tax rate measures the amount of taxes payable by medium-size businesses after accounting for deductions and exemptions, expressed as a share of commercial profits. The taxes withheld (such as sales or value added tax or personal income tax) but not paid by the company are excluded. The total tax rate is designed to provide a comprehensive measure of the cost of all the taxes a business bears.
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World Bank. (October 24, 2024). Total tax rate as a share of profits for medium sized businesses in Mongolia from 2010 to 2019 [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/730801/mongolia-total-tax-rate-for-medium-sized-businesses/
World Bank. "Total tax rate as a share of profits for medium sized businesses in Mongolia from 2010 to 2019." Chart. October 24, 2024. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/730801/mongolia-total-tax-rate-for-medium-sized-businesses/
World Bank. (2024). Total tax rate as a share of profits for medium sized businesses in Mongolia from 2010 to 2019. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/730801/mongolia-total-tax-rate-for-medium-sized-businesses/
World Bank. "Total Tax Rate as a Share of Profits for Medium Sized Businesses in Mongolia from 2010 to 2019." Statista, Statista Inc., 24 Oct 2024, https://www.statista.com/statistics/730801/mongolia-total-tax-rate-for-medium-sized-businesses/
World Bank, Total tax rate as a share of profits for medium sized businesses in Mongolia from 2010 to 2019 Statista, https://www.statista.com/statistics/730801/mongolia-total-tax-rate-for-medium-sized-businesses/ (last visited December 22, 2024)
Total tax rate as a share of profits for medium sized businesses in Mongolia from 2010 to 2019 [Graph], World Bank, October 24, 2024. [Online]. Available: https://www.statista.com/statistics/730801/mongolia-total-tax-rate-for-medium-sized-businesses/
