Notice to Shareholders
We hereby notify our foreign shareholders that non-resident business entities and non-resident individuals are subject to withholding tax at the rate of 20% under clause 17.2.9 of the Corporate Income Tax (CIT) and Article 7 of the Personal Income Tax (PIT) of Mongolia.
However, you may be entitled to a reduced tax applicable under a double taxation agreement or a 10% tax if you are a permanent resident taxpayer of Mongolia as specified in Article 6 of the PIT law.
To be entitled to such tax reduction, you are hereby requested to provide to the Board Secretariat of APU JSC the following document before 31 July 2019:
- Tax Residency Certificate for a foreign business entity that is a taxpayer in a country with a double taxation agreement with Mongolia.
- Proof of permanent residence for an individual which may include Title of real estate ownership in Mongolia under his/her own name (notarized copy), or evidence of being physically present in Mongolia for 183 days or more in the applicable tax period, or proof of appointment as a civil servant of Mongolia to work overseas.
In the absence of afore-mentioned documents, the 2018 declared dividend (46 MNT per share) will be paid after withholding 20% tax; payment to take place after cut-off date of 1 August 2019.
The Board Secretariat contact details are below:
Tel: +976-11-344336 (extention 338);
The Board Secretariat of APU JSC
Date: 17 May 2019