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The Windfall tax or windfall profits tax in Mongolia was a taxation on the profits made by mining companies operating in Mongolia. It was implemented in 2006 and was the highest windfall profits tax in the world. It was a tax on unsmelted copper and gold concentrate that was produced in Mongolia. The tax was repealed in 2009 and phased out over ...
In 2006 Mongolia implemented a 68% windfall tax, which was the world's highest. The tax was based on profits made by mining companies on copper and gold sales above $2,600 per ton and $850 per ounce respectively. [23] [24] The tax was repealed in 2009 and phased out over the next two years. [25]
Windfall tax. A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry. There have been windfall taxes in various countries across the world, including Australia, [1] Italy, [2][3][nb 1] and Mongolia (2006-2009). [5][6] During the 2021–2023 global energy crisis, policy ...
Mongolia[ b ] is a landlocked country in East Asia, bordered by Russia to the north and China to the south. It covers an area of 1,564,116 square kilometres (603,909 square miles), with a population of 3.5 million, making it the world's most sparsely populated sovereign state. Mongolia is the world's largest landlocked country that does not ...
The Oyu Tolgoi mine is in the South Gobi Desert of Mongolia, 80 kilometres (50 mi) north of Mongolia's border with the People's Republic of China, where the mined copper is expected to be shipped. [4] Oyu Tolgoi deposits contain an estimated 2.7 million tonnes of copper and 1.7 million ounces (48,000 kg) of gold. [6]
In the Mongol Empire, a tamgha was a seal placed on taxed items and, by extension, a tax on commerce (see Eastern Europe below). [14] Over a hundred different Mongolian tamga are known. Certain tamga were adopted by individual medieval Mongolic and Turkic rulers, and were consequently used on coins and seals issued by these rulers.
Constitutional law. v. t. e. Administrative law in Mongolia is the body of law that governs the activities of administrative agencies of the Mongolian government. These activities include rulemaking, adjudication, or the enforcement of a specific regulatory agenda .
The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990 ...
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