Ministries and other national bodies

Ministry of Economy and Finance

Road tax can now be paid through GDT app

Vehicle owners can now pay road tax on their mobile devices through the GDT Taxpayer App, after the latest update, according to the Ministry of Economy and Finance’s General Department of Taxation (GDT) on July 30. ...

Thou Vireak
https://phnompenhpost.com/business/road-tax-can-now-be-paid-through-gdt-app

Cambodian exports reach $8 billion Jan-June

Cambodia exported $8.201 billion in the first six months of 2021, a 17 percent increase compared to the same period last year, according to a report from the Ministry of Economy and Finance. ...

Chea Vanyuth
https://www.khmertimeskh.com/50896757/cambodian-exports-reach-8-billion-jan-june/

Tax scrutiny ‘not pandemic-related’: Ministry of Economy and Finance collected more than $2.87bn in taxes last year, up 3.73% on 2019

With corporations in Southeast Asia reporting being swept up in tax audits while governments work to increase revenue during the pandemic, there are conflicting views regarding whether Cambodian firms are facing additional scrutiny.  ...

Husain Haider
https://www.khmertimeskh.com/50862164/tax-scrutiny-not-pandemic-related-ministry-of-economy-and-finance-collected-more-than-2-87bn-in-taxes-last-year-up-3-73-on-2019/

Financial leniency urged for buyers of boreys, condos

The government on March 22 issued a plea to developers of borey gated-communities and condominiums in Cambodia to ease some of the financial pressure facing customers to pay monthly installments until the end of March 2022, in light of the Covid-19 pandemic. ...

Hin Pisei
https://www.phnompenhpost.com/business/financial-leniency-urged-buyers-boreys-condos

GDT firm on March 31 tax deadline

General Department of Taxation (GDT) director-general Kong Vibol refused to budge on a March 31 deadline to file tax on income (ToI) for fiscal year 2020 despite the economic pressure on the business community caused by the Covid-19 pandemic. ...

May Kunmakara
https://www.phnompenhpost.com/business/gdt-firm-march-31-tax-deadline

Use of tax e-filing system mandated from March onwards

All taxpayers in the self-assessment tax bracket have been instructed to submit their annual income tax via electronic filing (ToI E-Filing) from next month on, according to an announcement by the General Department of Taxation (GDT). ...

Sok Chan
https://www.khmertimeskh.com/50817426/use-of-tax-e-filing-system-mandated-from-march-onwards/

App for property tax on the way but no increases, says government

Cambodia is undergoing property tax reform but says it is administrative with a focus on improving the registration and valuation of properties while strengthening enforcement and compliance. ...

Sok Chan
https://www.khmertimeskh.com/50817835/app-for-property-tax-on-the-way-but-no-increases-says-government/

Tax official defogs capital gains

A General Department of Taxation (GDT) official on February 22 listed some of the assets that would be exempt from capital gains tax once it comes into force in January 1, 2022 and shed light on some of the finer subtleties of the tax. ...

Thou Vireak
https://www.phnompenhpost.com/business/tax-official-defogs-capital-gains

$217 million collected through tax in January: PM

The General Department of Taxation (GDT) of Ministry of Economy and Finance earned 879 billion riels (approximately $217 million) from tax income in January this year. ...

Chea Vanyuth
https://www.khmertimeskh.com/50814324/217-million-collected-through-tax-in-january-pm/

Forum to promote ‘Access to Finance for Women Entrepreneurs in COVID-19 Era’

The National Bank of Cambodia has collaborated with the United States Agency for International Development (USAID) through Pact Cambodia, Khmer Enterprise, Swisscontact and Good Return to organise the Entrepreneurship Ecosystem Forum on “Access to Finance for Women Entrepreneurs in COVID-19 Era”. ...

Sok Chan
https://www.khmertimeskh.com/50810949/forum-to-promote-access-to-finance-for-women-entrepreneurs-in-covid-19-era/

Helping SMEs to stand on their own two feet

Following the successful completion of two rounds of assistance packages to support small and medium-sized enterprises (SMEs) and startups during the COVID-19 pandemic, Khmer Enterprise will implement a third this year. ...

Sok Chan
https://www.khmertimeskh.com/50810982/helping-smes-to-stand-on-their-own-two-feet/

Ministry ‘bullish’ on prospects of recovery

The Kingdom’s real economic growth is expected to recover by 4 percent in 2021 following a contraction of 3.1 percent in 2020, according to a report from the Ministry of Economy and Finance (MEF). ...

Sok Chan
https://www.khmertimeskh.com/50807772/ministry-bullish-on-prospects-of-recovery/

EU and Khmer Enterprise fund partnership for clean energy innovation in the agri-fishery sector

Khmer Enterprise, a unit under the Ministry of Economy and Finance (MEF) and EnergyLab, Cambodia’s only energy start-up incubator, have inked a partnership agreement to support clean energy start-ups in the agriculture, fishery, and aquaculture sectors in Cambodia with funds from the European Union. ...

Sok Chan
https://www.khmertimeskh.com/50806857/eu-and-khmer-enterprise-fund-partnership-for-clean-energy-innovation-in-the-agri-fishery-sector/

Payments balance up Kingdom sees a 1.7 percent surplus in 2020

The Kingdom’s balance of payments (BOP) saw a 1.7 percent surplus compared with its gross domestic product (GDP) in 2020 with growth supported by the in-flow of foreign direct investments and exports, according to a report from the National Bank of Cambodia (NBC). ...

Sok Chan
https://www.khmertimeskh.com/50807074/payments-balance-up-kingdom-sees-a-1-7-percent-surplus-in-2020/

Gov’t: Kingdom’s sovereign debt manageable

A senior official at the Ministry of Economy and Finance described Cambodia’s level of public debt as manageable and allowing flexibility for further borrowing to meet the country’s development needs. ...

May Kunmakara
https://www.phnompenhpost.com/business/govt-kingdoms-sovereign-debt-manageable

Recovery to be driven by three principles

A senior official at the Ministry of Economy and Finance said the government’s driving principles to restore the economy post-COVID-19 from 2021-2023 will be strategic approaches towards survival, reform and resilience. ...

Sok Chan
https://www.khmertimeskh.com/50804674/recovery-to-be-driven-by-three-principles/

Ministry revamps self-assessment tax regime classifications

The Ministry of Economy and Finance has issued a prakas (directive) for the classification of taxpayers doing business in the Kingdom currently under the existing self-assessment regime. ...

Sok Chan
https://www.khmertimeskh.com/50804495/ministry-revamps-self-assessment-tax-regime-classifications/

Tax inspections on vehicles to begin in early February

Tax officials in collaboration with sub-national authorities will begin tax inspections on all means of transportation and vehicles for 2020 throughout the country by early next month. ...

Mom Kunthear
https://www.phnompenhpost.com/national/tax-inspections-vehicles-begin-early-february

Tax collection near $3B in 2020

The Minister of Economy and Finance’s General Department of Taxation (GDT) collected 11.70052 trillion riel ($2.87 billion) in tax revenue last year, up 423.20 billion riel or 3.73 per cent compared to 2019, it said in a January 11 press release. ...

Hin Pisei
https://www.phnompenhpost.com/business/tax-collection-near-3b-2020

Applause after non-bank finance regulator minted

The private sector applauded the establishment of the Non-Bank Financial Services Authority (NBFSA) following Senate approval of a draft law on its organisation and function. ...

May Kunmakara
https://www.phnompenhpost.com/business/applause-after-non-bank-finance-regulator-minted

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