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ERDENET MINING CORPORATION NAMED AS TOP TAXPAYER OF 2019


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ERDENET MINING CORPORATION NAMED AS TOP TAXPAYER OF 2019

12 May, 2020
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On the occasion of Taxpayers' Day, which takes place in the second week of May each year, the General Department of Taxation has announced the top-10 taxpayer companies of 2019, the top-10 profitable companies, and the top-10 companies that have created the most jobs in 2019 respectively.

 

In 2019, the total budget revenue of Mongolia reached MNT 10.8 trillion, which is twice as much as in 2016. Taxes accounted for 54 percent of total budget revenue, or MNT 5.8 trillion.

 

There are 205,000 legal entities and 1.8 million citizens registered as taxpayers in Mongolia.

 

The top-10 taxpayer companies of 2019:

  1. Erdenet Mining Corporation – MNT 707 billion
  2. Erdenes Tavan Tolgoi – MNT 683 billion
  3. Oyu Tolgoi – MNT 372 billion
  4. Energy Resource – MNT 205 billion
  5. APU – MNT 165 billion
  6. Khaan Bank – MNT 130 billion
  7. Golomt Bank – MNT 103 billion
  8. Tavantolgoi – MNT 94 billion
  9. TTJVCo – MNT 87 billion
  10. MAK – MNT 75 billion

The total tax paid by these ten companies totaled MNT 2.6 trillion, which accounted for 45% of the total budget revenue collected by the tax authorities.

 

The top-10 profitable companies of 2019:

  1. Erdenes Tavantolgoi – MNT 387 billion
  2. Erdenet Mining Corporation – MNT 172 billion
  3. TTJVCo – MNT 60 billion
  4. Energy Resource – MNT 55 billion
  5. Khaan Bank – MNT 54 billion
  6. MAK – MNT 52 billion
  7. Tsairt Mineral – MNT 28 billion
  8. Leighton – MNT 27 billion
  9. Achit Ikht – MNT 25 billion
  10. Wagner Asia Equipment – MNT 18 billion

In 2019, the above companies made up the 51.1% or MNT 881 billion of corporate income tax.

 

The top-10 companies that have created the most jobs in 2019:

  1. Erdenet Mining Corporation – 8313
  2. Khaan Bank – 7546
  3. Nomintav Trade – 4776
  4. Gobi – 3725
  5. Mongolrostsvetment – 3261
  6. Oyu Tolgoi – 3190
  7. State Bank- 2861
  8. Golomt Bank – 2819
  9. Energy Resource – 2785
  10. MAK – 2321

 

A total of 41,597 jobs were created by these companies.


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