MongolTAX TIN LLC

3rd floor, DHL Building, Peace Avenue 10/5,

1st Khoroo, Sukhbaatar District, UB Mongolia
Tel/Fax: +976 11 331819
E-mail: nicky@mongoltax.mn www.mongoltax.mn

Mongol Tax CPAs’ and Tax consultants’ firm

Legal Tax Savings are Our Primary Interest…..

Our objective is to provide our clients with every opportunity to minimize their taxes within the
framework of the law.

Our value

 Responsibility
 Reliability
 Speed
 Qualified
 Personal

Mongol Tax is the first licensed company of the Mongolian Institute of Certified Tax
Accountants.

Mongol Tax was established in November, 2006 by professionals with extensive consulting
experience in accounting, taxation, financial reporting, and software solutions.

Our team of accounting professionals and tax consultants can help you with all your tax and
accounting needs. We can help whether you are an international corporation, a local company,
an individual entrepreneur or an NGO. We can help you optimize your returns, help you ensure
compliance, and help to ensure that you have the exacting controls essential to a successful
business.

With continual changes in tax legislation, and with high penalties for non-compliance, getting
the right advice is of fundamental importance. We can help every organization, large or small, to
minimize their tax expenses, ensure compliance with tax regulations, and to complete and file tax
returns accurately and on time.
At Mongol Tax, Accounting Services, we focus on each client’s individual business objectives.
We feel that in order to help our clients achieve their goals; we must thoroughly understand their
particular needs and requirements. We help our clients achieve success by providing a
combination of expert advice, personal attention, and creativity.

Senior Management

President
Sainjargal D (CPA, CPTA)

Mr. Sainjargal, chief financial officer of Mongolyn Alt Corporation, one of the biggest mining
companies in Mongolia, possesses over 20 years of work experience in accounting, taxation and
financial management. He is a Board Member of the Mongolian Institute of Certified Public
Tax Accountants.

Founder/Chairman
Tungalagmaa Khuajin (PhD, CPA & CPTA)
Ms. Tungalagmaa, founder, owner and Chairman of Mongol Tax, has over 20 years of work
experience in accounting, taxation and financial management. She has also been teaching
accounting and taxation in major Mongolian Universities for the last two decades.

Professional Designations and Affiliations

 Board Member of Mongolian Institute of Certified Public Tax Accountants

 Member of Ethics Committee of General Department of National Taxation Office
 Member of Training Committee of Mongolian Institute of Certified Public Accountants
 Tax Services
Legal Tax Savings are Our Primary Interest…..

Our objective is to provide our clients with every opportunity to minimize their taxes
within the framework of the law.

Tax Planning & Strategy

Reducing tax liabilities requires on-going strategic planning, experience and knowledge. We
work on the present while planning for the future.

The focus is on minimizing the tax costs and assisting clients in taking advantage of tax planning
opportunities in relation to business. Tax is not just about compliance. Tax planning can help to
ease your tax burden and allow you to build and distribute wealth. With careful tax planning, you
can avoid unnecessary liabilities and keep your tax to a minimum.

Reducing your company's taxes in today's environment requires not only intelligent tax planning,
but also a commitment to professional excellence and comprehensive service, with an
understanding of your particular situation, financial goals and objectives.

The key areas of tax planning & strategy are:

 Profit Repatriation Strategies

 Tax Incentives Planning
 Tax Effective Structures of a Business

Tax Due Diligence

Mergers and Acquisitions are increasingly common in Mongolia, with foreign companies
purchasing domestic Mongolian companies. One of the most critical issues in such an
acquisition is the pre-existing tax obligations of the target company. The tax regulations in
Mongolia are complex and compliance with the tax laws has been historically weak. The
potential for hidden tax liabilities is substantial.

It is critical that the true tax liabilities of the target be established as the new owner will
responsible for the targets tax liabilities. The penalties for tax evasion can be quite high and an
in-depth study of a targets true tax liabilities is always essential in any M&A transaction.
Tax Audit Representation and Defense

Given the complexities of Mongolian Tax Laws, coupled with the aggressive approach of tax
auditors, you should be certain you have knowledgeable and experienced professionals
representing and protecting your interests when your company is facing a tax audit.

You should always ask yourself if your current representative, whether they are an outside
consultant or someone from within your company, specializes in dealing with tax laws,
regulations, interpretations, policies, and procedures.

Our audit representation services range from simple audit consultations before and during an
audit, to the complete handling of all aspects of the audit process including (but not limited to):

 Managing all aspects of the field audit work including working closely with the field
auditor to help insure the auditor performs the audit correctly.
 Timely filing of all necessary documents in order to fully protect your rights should it
become necessary to appeal against the audit findings.
 Effectively managing the appeals process, and if necessary, to insure that all necessary
and available avenues of appeal are efficiently and effectively utilized in working to
reduce the audit findings.
 Representing you at the Board of Appeals Review
 Taking care of all other actions and filings that are necessary to fully protect your rights
and provide you with the best possible representation.

Although we can certainly initiate our representation at any time in the audit process, it is
generally most advantageous to our clients when we are engaged prior to the start of the audit.
This allows us to manage the entire process, further helping to insure that the audit is completed
correctly at the beginning and that your rights are fully protected throughout the entire process.

Tax Compliance & Advisory Services

With continual changes in tax legislation, and with high penalties for non-compliance, getting
the right advice is of fundamental importance. We can help every organization, large or small, to
minimize their tax expenses, ensure compliance with tax regulations, and to complete and file tax
returns accurately and on time. Preparing your own tax return can be a complicated and
confusing process.

We focus on providing accurate and timely filings for our clients in a manner that maximizes tax
savings.
At Mongol Tax you’ll find chartered tax accountants who understand your situation. We can
answer all of your tax questions in a friendly manner with the following professional services:
 o Tax Preparation & Submission
o Tax Audit Review Services
o Ongoing Tax Advisory
o Loss carry forwarding
o VAT deduction & Refund
o Personal Income Tax Services

Accounting Services
Our 100% Risk Free Guarantee...

Our accounting team is able to process your accounts, producing timely management accounts,
and periodical (Monthly, Quarterly, Annual) reports. With our team taking care of your
bookkeeping and accounting functions you can be freed to focus on core business
priorities. Instead of hiring your own staff with fixed monthly payroll expenses, we can handle
your accounting work on a monthly, quarterly or yearly basis.

Advantages of engaging our service include:

 Saving in recruitment and management of staff;

 Saving in work space and equipment for staff;
 Saving in fixed monthly payroll and social benefit contributions;
 Better quality in output as supervised by CPAs.

At Mongol Tax, Accounting Services, we focus on each client’s individual business objectives.
We feel that in order to help our clients achieve their goals; we must thoroughly understand their
particular needs and requirements. We help our clients achieve success by providing a
combination of expert advice, personal attention, and creativity with the following professional
services:

 Outsourced Bookkeeping
 Full Outsourced Accounting
 Payroll Outsourcing
 Accounting Software Solution & Implementation
 Accounting Advisory & IFRS compliance
 Internal Control Review
  Cost & Management Accounting

There are three categories of benefits of accounting outsourcing:

1. Cost savings of up to 50% can be achieved on accountant staff salary, benefits,

management, recruitment, training, accommodation, and equipment.
2. Risk Transfer. Accountancy outsourcing companies such as Mongol Tax have specialist
staff with a level of expertise not normally found in SME’s. This reduces the risk of
accounting errors and fines by the Mongolian Tax Authority after company audits.
3. Improved company focus. Outsourcing of important but non core functions such as
accounting allows companies to focus on their core business and competences. This helps
to increase quality, customer satisfaction, and profitability. The charts below show the
positive impact outsourcing can have on companies with the switch of focus from
administration to strategy.

Additional Services
 Company Setup
 License Applications
 Specialized Legal Reports
 Secretarial Services
 Asset Valuation
 CFO Services
 Client Base & Expertise Area
Exploration &
Mining NGOs
36% 5%

Service Trade
Providers 29%
30%