Global Property Guide

Financial Information for Residential Property Buyers


Tax Example: Rent

August 24, 2017

Non-resident couple's rental income1
Monthly Rental Income2 1,500 6,000 12,000
Annual Rental Income 18,000 72,000 144,000
= Taxable Income 18,000 72,000 144,000
Income Tax 3
Flat rate 10% 1,800 7,200 14,400
Annual Income Tax Due 1,800 7,200 14,400
Tax Due as % of Gross Income 10.00% 10.00% 10.00%
Thanks to:


Notes


1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 US$ = 2,010.00 MNT

3 Rental income earned by nonresident individuals is taxed at a flat rate of 10%.

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