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Mongolia vs Sri Lanka
Tax Rate Comparison

Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.

๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia
vs
๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka
Tax Year:

๐Ÿ’ฐ Personal Income Tax Calculator

Enter your income to see your estimated annual tax liability in each country โ€” side by side.

Enter your annual income above to see your personal tax comparison โ†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
10โ€“25%
25% top; fiscal windfall from mining
No change
6โ€“36%
Post-IMF program stabilization; rates held
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
10%
10% stable
No change
18%
18% stable; debt servicing requires revenue
No change
Corporate Tax Rate
Corporate Tax Rate
10โ€“25%
25% large companies; mining fiscal regime key
No change
30%
30% maintained
No change
Capital Gains Tax
Capital Gains Tax
10%
10% maintained
No change
10%
10% CGT maintained
No change
Social Security & Payroll
Social Security / Payroll
~19.8%
Coverage expanding; pension reform
No change
~12%
EPF reform; adequacy improving
No change
State, Regional & Local Taxes

๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia โ€” Aimag & Municipal Taxes

Mongolia's 21 aimags (provinces) and Ulaanbaatar city have provincial and local administrations that collect property taxes, vehicle taxes, and business licence fees within national frameworks. The General Department of Taxation (GDT) administers all national taxes. Mongolia's economy is dominated by mining (coal, copper, gold) with Erdenet, Tavan Tolgoi, and Oyu Tolgoi being major revenue sources. Mining royalties (5%โ€“5% on coal, 2.5% on strategic deposits) are national. A new mining law has updated fiscal terms.

๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka โ€” Provincial & Local Authority Taxes

Sri Lanka's 9 provincial councils have some tax powers including turnover tax, certain business taxes, and stamp duties within their provinces. Local authorities (municipal councils, urban councils, pradeshiya sabhas) levy property tax (Assessment rate) at 25% of annual value and various service fees. The Inland Revenue Department (IRD) administers national taxes. Sri Lanka went through a severe debt crisis in 2022โ€“23; significant IMF-backed tax reforms dramatically raised income tax rates and broadened the tax base.

โš ๏ธ Disclaimer: Rates shown are standard top/headline rates for informational purposes. Actual tax liability depends on income level, residency, deductions, and tax treaties. 2025โ€“2026 data reflects announced or enacted rates and may be subject to change. Not financial or legal advice.

Mongolia vs Sri Lanka: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฑ๐Ÿ‡ฐ Sri Lanka has a higher top income tax rate (10โ€“25% vs 6โ€“36%). ๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: Sri Lanka has a higher consumption tax (10% vs 18%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฒ๐Ÿ‡ณ Mongolia offers a lower corporate rate (25% vs 30%), which can influence business location decisions.

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