Transfer pricing compliance

Mongolia • No.3/2024 • January 2024

Under the Mongolian TP rules taxpayers have to report both cross border and domestic related party transactions.

TP reporting requirements

Taxpayers should prepare and submit annually to the tax authorities the following transfer pricing reports in order to ensure that in establishing prices between related parties the taxpayers fulfilled transfer pricing requirements

Name of TP report

• Annual transactional TP report
• Local File
• Master File
• Country by country report (CbCR)

TP concept

• TP reporting requirement
• TP adjustment
• Penalty on non-submission of TP reports
• TP cases