Mongolia is a landlocked unitary sovereign state in East Asia. Its area is roughly equivalent to the historical territory of Outer Mongolia, and that term is sometimes used to refer to the current state. It is sandwiched between China to the south and Russia to the north. Mongolia does not share a border with Kazakhstan, although only 37 kilometers (23 mi) separates them.

At 1,564,116 square kilometers (603,909 sq mi), Mongolia is the 18th largest and the most sparsely populated fully sovereign country in the world, with a population of around 3 million people. It is also the world’s second-largest landlocked country behind Kazakhstan and the largest landlocked country that does not border a closed sea. The country contains very little arable land, as much of its area is covered by grassy steppe, with mountains to the north and west and the Gobi Desert to the south. Ulaanbaatar, the capital, and largest city, is home to about 45% of the country’s population.

Capital: Ulanbaatar

Currency: Tögrög

Timezone: UTC+7 and UTC+8 (DST: UTC+8 and UTC+9)

Corporate tax rate: 10-25%

Personal tax rate: 10%

Capital gains tax: 10%

VAT: 10%

Tax residence: 183 days rule: world income is taxed with some exceptions.

CFC Rules: No

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