IMF advises Mongolia to re-think tax agreement to safeguard mining revenue | Ubpost News: "The current Mongolian Double Tax Agreement (DTA), which is a tax claim by two or more jurisdictions on the same income, is prone to international tax planning as it allows residents of other countries to substantially reduce the amount of tax they pay in Mongolia, said International Monetary Fund (IMF)’s report released on November 14.
“The Mongolian authorities are increasingly faced with cases of international tax planning,” the report said.
Under DTAs, a company can be a tax resident in two countries which would make it subject to the tax laws of each. If both places tax their residents on worldwide income they could be taxed twice on the same income. Double tax agreements decide which country or territory has the first or sole rights to tax specific to income."
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