According to recent reports, the Mongolian parliament has approved the introduction of a new capital gains tax that must be withheld by entities with regulated activities under the Securities Market Law, including central depository and custodian activities, on the sale of bonds, stocks, and other securities. These entities are required to withhold tax on such sales at rates of 10% on the taxable gain for resident taxpayers and 20% on the gross proceeds for non-residents. A 90% tax credit will initially be available for the sale of securities on the domestic primary and secondary markets from 2024 to 2026, which...