PracticeVideosBlogFlashcardsEspañol
All Practice Exams

Free Practice Questions for Mongolia Certified Tax Consultant

Exam-style questions and explanations by OpenExamPrep.

✓ No registration✓ No credit card
100+ Questions
100% Free

Loading practice questions...

Exam Review

Key Facts: Mongolia Certified Tax Consultant Exam

4 papers

Granting papers, totalling 13.5 examination hours

Order No. 101 (2019, amended 2025), §2.5

75/100

Pass mark on each paper

Order No. 101, §2.6

3 years

Validity of the tax consultant right

Law on Certified Tax Consulting Service, Art. 14.5

5 years

Minimum work experience in the field

Law on Certified Tax Consulting Service, Art. 15.1.2

36 months

Validity of a passed paper's result

Order No. 101, §2.7

Mongolia's Certified Tax Consultant exam is set by Minister of Finance Order No. 101 (as amended from 2026) and run with CPTA. Candidates sit four papers (Tax Accounting, Tax Theory and Ethics, Law and Tax Policy, IFRS) totalling 13.5 hours and need 75 of 100 on each. This free bank is an independent English-language MCQ study adaptation.

Sample Mongolia Certified Tax Consultant Practice Questions

Try these sample questions to review concepts for the Mongolia Certified Tax Consultant exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under IAS 12 Income Taxes, how is a 'temporary difference' defined in tax accounting?
A.A difference between the carrying amount of an asset or liability in the statement of financial position and its tax base
B.A permanent non-deductible penalty that will never affect future taxable profits
C.The statutory tax rate variance between standard corporate income tax and personal income tax
D.The difference between budgeted annual tax payments and actual cash tax payments
Explanation: IAS 12 paragraph 5 defines temporary differences as differences between the carrying amount of an asset or liability in the statement of financial position and its tax base. Temporary differences result in either taxable or deductible amounts in determining taxable profit of future periods.
2An entity buys production equipment for 100,000,000 MNT and puts it into use on 31 December 2024. For accounting it depreciates the equipment straight-line over 5 years with no residual value (20,000,000 MNT a year). For CIT, Article 17.1 gives machinery and production equipment a 10-year straight-line life (10,000,000 MNT a year). At 31 December 2025, with a 10% CIT rate, what temporary difference and deferred tax balance arise?
A.Deductible temporary difference of 10,000,000 MNT, giving a deferred tax asset of 1,000,000 MNT
B.Taxable temporary difference of 10,000,000 MNT, giving a deferred tax liability of 1,000,000 MNT
C.Permanent difference of 10,000,000 MNT with no deferred tax
D.Deductible temporary difference of 20,000,000 MNT, giving a deferred tax asset of 2,000,000 MNT
Explanation: At 31 December 2025 the carrying amount is 100M - 20M = 80,000,000 MNT and the tax base is 100M - 10M = 90,000,000 MNT. The asset's carrying amount is below its tax base, so there is a deductible temporary difference of 10,000,000 MNT and a deferred tax asset of 10,000,000 x 10% = 1,000,000 MNT (subject to probable future taxable profit).
3A company pays a 5,000,000 MNT fine imposed by the tax authority for filing VAT returns late. The fine is expensed in the accounts and will never be deductible for CIT. With a 10% CIT rate, how is it treated in tax accounting?
A.A permanent difference: expensed in accounting profit, added back in full on the CIT return, with no deferred tax
B.A deductible temporary difference giving a deferred tax asset of 500,000 MNT
C.A taxable temporary difference giving a deferred tax liability of 500,000 MNT
D.A direct reduction of the output VAT account
Explanation: An expense that will never be deductible in any period is a permanent difference. It is added back when computing taxable income, raises current tax, and never reverses, so under IAS 12 it creates no deferred tax asset or liability. It also explains part of the gap between the statutory rate and the effective tax rate.
4A trading company (not a bank or non-bank financial institution) recognises a 30,000,000 MNT loss allowance on trade receivables under IFRS 9. Assume the allowance is not deductible for CIT until the debts are actually written off. With a 10% CIT rate and probable future taxable profit, what deferred tax entry is required?
A.Debit Deferred tax asset 3,000,000 MNT; Credit Deferred tax expense (income) 3,000,000 MNT
B.Debit Income tax expense 3,000,000 MNT; Credit Deferred tax liability 3,000,000 MNT
C.Debit Loss allowance 30,000,000 MNT; Credit Tax payable 3,000,000 MNT
D.No entry until the Ministry of Finance approves the write-off
Explanation: The receivables' carrying amount (net of the allowance) is 30,000,000 MNT below their tax base, because the tax base ignores the allowance until the debts are written off. That deductible temporary difference gives a deferred tax asset of 30,000,000 x 10% = 3,000,000 MNT: Dr Deferred tax asset, Cr Deferred tax expense. (The CIT Law's loan-loss fund deduction in Article 15.1.11 applies only to banks and non-bank financial institutions.)
5A new Mongolian company has a 2025 tax loss of 100,000,000 MNT confirmed by the tax office. CIT Law Article 19.2 lets it use the loss over the next 4 years, capped at 50% of each year's taxable income. It reliably forecasts taxable income of 80,000,000 MNT in 2026 and 100,000,000 MNT a year in 2027-2029. With a 10% CIT rate, what should it recognise at 31 December 2025 under IAS 12?
A.A deferred tax asset of 10,000,000 MNT, as forecast profits absorb the loss within 4 years
B.A deferred tax liability of 10,000,000 MNT
C.No deferred tax, because tax losses can never be recognised as assets
D.A current tax receivable of 10,000,000 MNT from the state budget
Explanation: IAS 12.34 requires a deferred tax asset for unused tax losses to the extent it is probable that taxable profit will be available to use them. With the 50% cap, the company can use 40,000,000 MNT in 2026 and 50,000,000 MNT in 2027, and the last 10,000,000 MNT in 2028, all within the 4-year window. The whole loss is recoverable, so the deferred tax asset is 100,000,000 x 10% = 10,000,000 MNT.
6A VAT-registered manufacturing company in Ulaanbaatar sells taxable goods for 110,000,000 MNT including 10% VAT. During the same month, it purchases raw materials for 66,000,000 MNT including 10% VAT, backed by valid e-barimt receipts. What is the net VAT payable to the state budget?
A.4,000,000 MNT
B.10,000,000 MNT
C.6,000,000 MNT
D.44,000,000 MNT
Explanation: Output VAT on sales = 110,000,000 * (10 / 110) = 10,000,000 MNT. Input VAT on material purchases = 66,000,000 * (10 / 110) = 6,000,000 MNT. Net VAT payable = Output VAT - Input VAT = 10,000,000 - 6,000,000 = 4,000,000 MNT.
7A commercial bank provides only banking services that are VAT-exempt under Article 13.5 of the VAT Law. It buys office computers for 22,000,000 MNT, including 2,000,000 MNT VAT. How should it account for the 2,000,000 MNT VAT?
A.Capitalised in the computers' cost (22,000,000 MNT), because input VAT on exempt supplies is not creditable
B.Recognised as an input VAT receivable and refunded in cash by the tax authority
C.Credited against output VAT in equal instalments over 5 years, as for equipment
D.Expensed at once as a tax cost, with the computers recorded at 20,000,000 MNT
Explanation: Article 14.6.3 of the VAT Law denies any deduction for VAT paid on goods and services bought for supplies exempt under Article 13. The 2,000,000 MNT cannot be recovered, so under IAS 16 it forms part of the computers' cost, giving a capitalised cost of 22,000,000 MNT.
8An enterprise employs a resident worker with a gross monthly salary of 2,000,000 MNT. Under Mongolian Social Insurance and Personal Income Tax regulations, assuming employee social insurance is 11.5% and PIT is 10% on taxable wages (gross salary minus employee social insurance, ignoring personal relief for this problem), what is the employee's net take-home salary?
A.1,593,000 MNT
B.1,600,000 MNT
C.1,770,000 MNT
D.1,800,000 MNT
Explanation: Gross Salary = 2,000,000 MNT. Employee social and health insurance contribution (11.5%) = 2,000,000 * 0.115 = 230,000 MNT. PIT Law Article 14.1 deducts these contributions, so the PIT base = 2,000,000 - 230,000 = 1,770,000 MNT. PIT (10%) = 1,770,000 * 0.10 = 177,000 MNT. Total employee deductions = 230,000 + 177,000 = 407,000 MNT. Net Take-Home Salary = 2,000,000 - 407,000 = 1,593,000 MNT.
9A Mongolian corporation holds a foreign currency bank deposit of 100,000 USD. At 1 January 2025, the official Bank of Mongolia exchange rate was 3,400 MNT/USD (book value 340,000,000 MNT). At 31 December 2025, the rate is 3,500 MNT/USD (book value 350,000,000 MNT). The 10,000,000 MNT unrealized foreign exchange translation gain is recognized in profit or loss under IAS 21. How is this unrealized FX gain treated for Mongolian Corporate Income Tax purposes?
A.Not taxed in 2025; only realised exchange gains are taxable income
B.Taxed in 2025 as other income at the Article 20.1 rates
C.Taxed at 10% on the gross amount, like interest income
D.Taxed in 2025, but spread evenly over the next three years
Explanation: Article 11.1.4 of the CIT Law includes only realised (бодит) foreign-exchange gains in taxable 'other income', and Article 16.1.9 likewise disallows unrealised exchange losses. A year-end retranslation gain on a deposit that is still held is therefore not taxed until it is realised, which creates a temporary difference under IAS 12.
10On the annual corporate income tax return, how is taxable income (албан татвар ногдуулах орлого) derived from accounting profit before tax?
A.Accounting profit plus non-deductible items, less exempt or separately taxed income and losses carried forward
B.Gross sales revenue multiplied by the statutory 10% rate without deducting expenses
C.Operating cash flows from the statement of cash flows plus cash dividends received
D.Accounting profit before tax with no adjustments, because the CIT base follows IFRS profit
Explanation: Start from accounting profit before tax. Add back expenses that are non-deductible (e.g., CIT Article 16 items) and deduct income that is exempt or not yet taxable (e.g., unrealised FX gains). Take out income taxed separately on a gross basis under Article 18.6, such as dividends, interest and royalties, and deduct the loss carried forward under Article 19. The result is the taxable income to which the Article 20.1 rates apply.

About the Mongolia Certified Tax Consultant Exam

A Certified Tax Consultant (Татварын мэргэшсэн зөвлөх) works for a licensed tax consulting firm under the Law on Certified Tax Consulting Service. This page offers independent English-language practice questions on the four examination papers; the questions are a study aid, not an official-format simulation.

Exam sponsor: Nine-member Examination Commission appointed by the Minister of Finance, with the Association of Certified Tax Consultants of Mongolia (ТМЗН / CPTA). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Minister of Finance Order No. 101 (2019), as amended by Order А/204 from 1 January 2026, sets four granting papers plus a 3-hour renewal paper. A candidate needs 75 of 100 on each paper, and a passed paper counts for 36 months. Holders of the Mongolian CPA right or an internationally recognised accountancy credential (such as ACCA) are credited with the IFRS paper. The examination is held twice a year in Ulaanbaatar, with local sittings on request. This page is an independent English-language MCQ study adaptation; it is not an official translation and does not simulate the written calculation tasks.

Time Limit

13.5 hours across four papers (5 h + 2.5 h + 3 h + 3 h)

Passing Score

75 or more out of 100 on each paper

Exam / Certification Fees

Set by Examination Commission resolution and announced by CPTA (not published in Order No. 101)

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

25%

Tax Accounting (Татварын бүртгэл)

Book-to-tax adjustments, deferred tax, VAT and payroll calculations, CIT depreciation lives, deductible and non-deductible expenses, and return deadlines (5-hour paper).

25%

Tax Theory and Professional Ethics (Татварын онол - Мэргэжлийн ёс зүй)

Principles of taxation, incidence and efficiency, the Law on Certified Tax Consulting Service, confidentiality, conflicts of interest and AML duties (2.5-hour paper).

25%

Law and Tax Policy (Хууль эрх зүй - Татварын бодлого)

General Tax Law, CIT, PIT, VAT, excise, customs, transfer pricing, tax audits and disputes, including amendments effective 1 January 2027 (3-hour paper).

25%

Application of IFRS (Санхүүгийн тайлагналын олон улсын стандартын хэрэглээ)

IAS 12 deferred tax, tax bases, and the tax treatment of IFRS measurements such as impairment, fair value, leases and provisions (3-hour paper).

Preparing for the Mongolia Certified Tax Consultant Exam

What You Need to Know

  • Passing score: 75 or more out of 100 on each paper
  • Assessment: Minister of Finance Order No. 101 (2019), as amended by Order А/204 from 1 January 2026, sets four granting papers plus a 3-hour renewal paper. A candidate needs 75 of 100 on each paper, and a passed paper counts for 36 months. Holders of the Mongolian CPA right or an internationally recognised accountancy credential (such as ACCA) are credited with the IFRS paper. The examination is held twice a year in Ulaanbaatar, with local sittings on request. This page is an independent English-language MCQ study adaptation; it is not an official translation and does not simulate the written calculation tasks.
  • Time limit: 13.5 hours across four papers (5 h + 2.5 h + 3 h + 3 h)
  • Exam / certification fees: Set by Examination Commission resolution and announced by CPTA (not published in Order No. 101) Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Mongolia Certified Tax Consultant: Suggested Study Strategy

1Give Tax Accounting the most practice time: it is the longest paper at 5 hours.
2Master IAS 12 tax bases and learn which Mongolian CIT items are non-deductible (Article 16) or depreciated on statutory lives (Article 17).
3Learn the 2026 rules and the changes that apply from 1 January 2027 (15% CIT band, 400 million MNT VAT threshold, new PIT bands).
4Know the Law on Certified Tax Consulting Service closely: services (Art. 6), eligibility (Art. 15), consultant duties (Art. 16), revocation (Art. 17) and prohibitions (Art. 20).
5Aim for at least 80% in practice, because each paper needs 75 on its own.

Frequently Asked Questions

What are the four papers of the Mongolian Certified Tax Consultant exam?

Order No. 101 sets Tax Accounting (5 hours), Tax Theory and Professional Ethics (2.5 hours), Law and Tax Policy (3 hours) and Application of IFRS (3 hours). A separate 3-hour paper is used for renewal.

What is the passing score?

Each paper is scored out of 100, and a candidate passes it with 75 or more. A passed paper remains valid for 36 months.

Who is eligible?

Article 15.1 of the Law on Certified Tax Consulting Service requires a bachelor's degree or higher in taxation, economics, finance or accounting and at least 5 years' work in that field. From 1 January 2026 the exam rules no longer require the CPTA training certificate or preliminary tests.

Is this an official CPTA practice test?

No. OpenExamPrep provides independent English-language multiple-choice practice on the four paper topics. It is a study aid, not an official translation, and it does not reproduce the exam's written calculation tasks.

How long is the tax consultant right valid?

Article 14.5 of the Law grants the right for three years. To renew it, the consultant attends the Association's training and passes the renewal examination (Law Art. 16.1.5).