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Ministry of Finance of Mongolia; Монгол Улсын Сангийн яам: Agency overview; Formed: 29 December 1911 [1] Jurisdiction: Government of Mongolia: Headquarters: S.Danzan St, Government Building II, Block D, Ulaanbaatar, Mongolia: Employees: 167: Annual budget: MNT 22.2 billion (about US$7.8 million) (2020) [2] Minister responsible
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It manages and enforces the reporting, payment, and receipt of taxes owed to the state, as well as some other fees. [1] As of 2017, the department administered more than 30 taxes totaling almost $21 billion per year. [2]
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The payment could be deducted from a pre-paid account or charged to a mobile or bank account directly. Mobile payment method via NFC faces significant challenges for wide and fast adoption, due to lack of supporting infrastructure, complex ecosystem of stakeholders, and standards. [25] Some phone manufacturers and banks, however, are enthusiastic.
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