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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 The tax was repealed in 2009 and phased out over ...
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 ...
Organization. Headquartered in Ulaanbaatar, Mongolia, the Mongolia Economic Forum is a non-governmental organization and was established in 2010. The NGO's highest governing body is the Board of Directors. Chairman of the Mongolia Economic Forum NGO is Пунцагийн Цагаан. Director of the Mongolia Economic Forum NGO is Lakshmi Bodsho.
The State Great Khural ( Ulsyn Ikh Khural in Mongolian, meaning State Great Assembly) is a unicameral legislative body with 76 seats. The State Great Khural wields some of the most important powers in Mongolian politics. Parliamentary elections are held every four years, and 76 representatives are chosen.
The Oyu Tolgoi mine, also Oyuutolgoi (Mongolian: Оюутолгой, pronounced [ɔˌjʊˑtʰɔɮˈɢœˑ]; lit. "Turquoise Hill"), is a combined open pit and underground mining project in Khanbogd sum within the south Gobi Desert, approximately 235 kilometres (146 mi) east of the Ömnögovi Province capital Dalanzadgad.
It was a part of a Pan-Mongolian plan and few Oirats and Inner Mongols (Huuchids, Bargas, Tümeds, about 800 Uzemchins) arrived. Inner Mongolian leaders carried out active policy to merge Inner Mongolia with Mongolia since 1911. They founded the Inner Mongolian Army in 1929 but the Inner Mongolian Army disbanded after ending World War II. The ...
The name Mongolia means the "Land of the Mongols" in Latin. The Mongolian word "Mongol" (монгол) is of uncertain etymology, given variously as the name of a mountain or river; as a corruption of the Mongolian Mongkhe-tengri-gal ("Eternal Sky Fire"); or as a derivation from Mugulü, the 4th-century founder of the Rouran Khaganate, first attested as the 'Mungu', (Chinese: 蒙兀, Modern ...
The structure of the national budget changed between 1940 and 1985. In 1940 some 34.6 percent of revenues came from the turnover tax (a value added tax on each transaction), 7.8 percent from deductions from profits, 16.7 percent from taxes on the population, and 40.9 percent from other kinds of income. In 1985 nearly 63 percent of revenues came ...