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Mongolian Mining Company Faces $228 Million Tax Charge

March 18, 2021, 1:52 PM

Mongolia’s tax administration issued a $228 million tax assessment against a mining company—its first involving intercompany pricing transactions.

The tax administration also denied $1.5 billion in carried forward losses. Although the matter is under dispute, “this represents a significant milestone and step forward for the Mongolian Tax Administration in executing its strategy to combat tax base erosion and profit shifting (BEPS) in the mining sector,” the OECD said in a statement Thursday.

  • Since 2019, the Organization for Economic Cooperation and Development and the Intergovernmental Forum on Mining, Minerals, Metals, and Sustainable Development have been working with Mongolia’s tax authorities to ...

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