As of August, 26 percent of total budget revenue was generated by the mining sector. For example, ‘Erdenes-Tavan Tolgoi’ JSC has accumulated MNT 222.6 billion tax in the first eight months of this year, which is more than 40 percent higher than in the same period of the previous year. In the reporting year, “Oyu Tolgoi” LLC paid a tax of MNT 275.4 billion, which is 37 percent higher than in the same period of the previous year. The tax paid by the two companies alone constituted about 30 percent of the centralized mining tax. Budget revenues from mining sector tend to grow in recent years. For instance, in 2013-2015, the mining sector generated 21-22 percent of the budget revenue. But it fell to 16 percent in 2016 during mineral price decrease, and went up in 2017-2018.

In 2016, the state budget loss was accounted for MNT 3.4 trillion. During the reporting period, total budget revenue amounted to MNT 6.4 trillion.

Source: BloombergTv.mn