The National Statistical Office reported that corporate income tax revenue generated in the first quarter of 2018 came to 233 billion MNT, an increase of 13 percent compared to the same period in 2017.
During the economic crisis in 2016, the corporate income tax revenue was 3.5 times lower than the current indicator. Foreign direct investment to Mongolia has increased due to commodity price hikes and intensification of construction projects.
The expansion in export volume also helped to increase revenue. The top 100 companies in Mongolia earned a net profit of 269.89 billion MNT, an 81.4 percent increase compared to 2016; gross losses decreased by 54 percent. The companies are raising their financial outlook accordingly in 2018.