Mongolia VAT Calculator

The Value Added Tax in Mongolia is 10% for all types of goods sold, goods exported for the purpose of sale, consumption or use inside and outside the territory and the work and services provided within the territory. Some goods are services are rated to Zero for example exports, domestically grown food staples.

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The Value Added Tax in Mongolia is 10% for all types of goods sold, goods exported for the purpose of sale, consumption or use inside and outside the territory and the work and services provided within the territory. Some goods are services are rated to Zero for example exports, domestically grown food staples.

Formula:

Add Tax Tax Amount = ( Original Cost * VAT% ) / 100 Net Price = Original Cost + Tax Amount
Remove Tax Tax Amount = Original Cost - ( Original Cost * ( 100 / ( 100 + VAT% ) ) ) Net Price = Original Cost - Tax Amount

Example

Find the VAT price and net price in Mongolia (GST % is 10) for an amount of 25000 ₮

Add Tax

Solution :
GST % = 10
Amount = 25000

Step 1 :
GST Price = (25000 * 10 ) / 100
     = 2500 ₮

Step 2 :
Net Price = 25000 + 2500
     = 27500 ₮

Hence the VAT Price is 2500 ₮ and Net Price is 27500 ₮

Remove Tax

Solution :
GST % = 10
Amount = 25000

Step 1 :
GST Price = 25000 - (25000 * ( 100 / (100 + 10)))
                 = 25000 - (25000 * 0.91)
                 = 25000 - 22727.27
                 = 25000 - 22727.27
GST Price = 2272.73 ₮

Step 2 :
Net Price = 25000 - 2272.73
                = 22727.27 ₮

Hence the VAT Price is 2272.73 ₮ and Net Price is 22727.27 ₮


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