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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 ...
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 The tax was repealed in 2009 and phased out over ...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 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.
In 2008, the IRS presented a discussion of US Federal income tax to Director General Zorig Luvsandash from the General Department of National Taxation of the Republic of Mongolia. In August 2011, Joe Biden made the first visit to Mongolia by a sitting U.S. Vice President since Henry Wallace toured the region in 1944.
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 Mongol Empire of the 13th and 14th centuries was the largest contiguous empire in history. Originating in present-day Mongolia in East Asia, the Mongol Empire at its height stretched from the Sea of Japan to parts of Eastern Europe, extending northward into parts of the Arctic; eastward and southward into parts of the Indian subcontinent, attempted invasions of Southeast Asia, and ...
The United States has sought to assist Mongolia's movement toward democracy and market-oriented reform and to expand relations with Mongolia primarily in the cultural and economic fields. In 1989 and 1990, a cultural accord, Peace Corps accord, consular convention, and Overseas Private Investment Corporation (OPIC) agreement were signed.
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 ...