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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 ...
Administrative law. 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 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 The tax was repealed in 2009 and phased out over ...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 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 ...
Coal, copper, and gold are the principal reserves mined in Mongolia. Several gold mines are located about 110 kilometres (68 mi) north of Ulaanbaatar, such as Boroo Gold Mine and Gatsuurt Gold Mine. Khotgor Coal Mine is an open-pit coal mining site about 120 kilometres (75 mi) west of Ulaangom. Ömnögovi Province in the south of Mongolia is ...
The Erdenet Mining Corporation is a joint Mongolian-Russian venture, and accounts for a majority of Mongolia's hard currency income. Erdenet mines 22.23 million tons of ore per year, producing 126,700 tons of copper and 1,954 tons of molybdenum. [3] The mine accounts for 13.5% of Mongolia's GDP and 7% of tax revenue. [4]
The Government Palace ( Mongolian: Засгийн газрын ордон, Zasgiin gazryn ordon ), also known as the State Palace, is located on the north side of Sükhbaatar Square (formerly Chinggis Square, from 2013 to 2016) in Ulaanbaatar, the capital city of Mongolia. It houses various state organs such as the State Great Khural and ...
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 ...