Taxation

The Tax Department has announced a one-month extension to its traditional March 31 deadline for companies to submit their annual corporate tax filings – an unprecedented last-minute move that some legal experts argue could be sending the wrong message to taxpayers. ...

A two-year income tax exemption is being offered to small and medium-sized enterprises that register with the Ministry of Economy and Finance before the end of 2018.   ...

Cambodian casino operator NagaCorp Ltd posted a net profit of $184.2 million last year, a 7 percent increase over the previous year, with growth largely tempered by a lacklustre surge in business volume across all gaming segments at its NagaWorld casino complex in Phnom Penh.While ...

ANZ Royal customers will be able to make tax payments in local currency and in US dollars at all bank branches and online starting in April following the signing of a memorandum of understanding (MoU) with the Economy and Finance Ministry on Friday. ...

An amendment to the tax code gives government auditors clearer authority to access individual and corporate financial data, providing a tool to identify tax evasion and a deterrent to prevent it, tax professionals said yesterday. ...

Government revenue collected on property transfers and construction services dropped off by 25 percent last year, reflecting a slowdown of the Kingdom’s construction sector despite a surge in the reported value of investment in real estate development projects, according to analysts. ...

Efforts to introduce an effective, modern taxation system appear to be paying off as government coffers swelled last year, giving the state more revenue to use for development at a time when donor aid is drying up. ...

The first ever smartphone tax app is set to be launched next year in an effort to make tax payments by companies more transparent. The app developed by the General Department of Taxation (GDT) of the Ministry of Finance and Economy, is a platform for individuals ...

As part of ongoing government efforts to modernize and streamline the country’s tax system, 43 tax agent licenses were awarded yesterday. The 43 companies are now legally recognized as offering tax declaration services to the public and private sectors. Eighteen had previously been doing this work ...

Tax revenue from Cambodia’s 69 licensed casinos reached $37.4 million for the first nine months of the year, growing 35.5 percent compared to the same period last year, according to a report from the Ministry of Economy and Finance. ...

An extensive tax treaty that would shield Chinese businesses operating in the Kingdom from double taxation, and vice versa, has been drafted and is expected to be approved imminently, according to a senior Cambodian tax official. ...

The tax collection from General Department of Customs and Excise (GDCE) in the first nine months of the year amounted to $1.3 billion, up 16 percent from the same period last year. ...

The government’s tax collection body has extended the fringe benefit tax exemption to several new industries, removing the 20-percent tax that employers were previously required to pay on the benefits they offered to their workers. ...

The government will not increase the rate for income tax and other taxes for the next two years, but will instead concentrate on expanding the base for tax collection, taking into account that there are still many individuals and businesses that do not pay tax ...

Prime Minister Hun Sen has quashed an attempt by the Ministry of Finance to collect back taxes owed on 470 police vehicles, granting them tax-exempt status after a request from the Ministry of Interior. The request, dated September 8, was approved on Tuesday. ...

NagaWorld, a subsidiary of a Hong Kong-listed NagaCorp, reached a deal with the Ministry of Economy and Finance to pay a new tax rate on their non-gaming operations, said a ministry official. ...

The Ministry of Commerce and the Ministry of Economy and Finance’s general taxation department plan to jointly operate an online business tax registration system in a bid to strengthen tax collection in the country and root out corruption. Sok Sopheak, under-secretary of state of the Ministry ...

A group of private sector rubber producers have petitioned the government to drop export taxes on rubber products, arguing that by scrapping the tax the sector would attract foreign investment into processing factories. ក្រុមអ្នកផលិតកៅស៊ូចង់នាំឱ្យពន្ធនាំចេញត្រូវលុបចោលក្រុមអ្នកផលិតកៅស៊ូឯកជនមួយបានដាក់ញ្ញត្តិទៅរដ្ឋាភិបាលដើម្បីទម្លាក់ចោលពន្ធនាំចេញផលិតផលកៅស៊ូ ដែលលើកឡើងថា ការមិនយកពន្ធនាំចេញនៃវិស័យនេះអាចនឹងទាក់ទាញវិនិយោគិនបរទេសមកដំឡើងរោងចក្រកែច្នៃ។ ...

The Ministry of Economy and Finance on Monday sought to explain a recent hefty increase in taxes imposed on heavy transportation vehicles, saying it was prompted by a need to support infrastructure maintenance expenditures and cover the elimination of taxes on vehicles smaller than 150cc. ...

The owners of vehicles sporting police number plates must pay vehicle taxes by the end of the month or face having their vehicles impounded, according to the Ministry of Economy and Finance. In a letter to Interior Minister Sar Kheng, Economy and Finance Minister Aun Ponmoniroth ...

As a way to possibly boost funding for environmental protection in the Kingdom, Prime Minister Hun Sen yesterday floated the idea of an extra tax on cigarettes and alcohol. Speaking at a forum on the protection and conservation of natural resources in Phnom Penh, the prime ...

Tax revenue in the first seven months of the year was $955 million, an increase of 18.91 percent over the same period last year, according to a report from the General Department of Taxation (GDT). ...

As the price of natural rubber tumbles due to a slowdown in the global economy and falling demand for the commodity, the Kingdom’s hard hit rubber industry investors are now calling on the government to revise export taxes. ...

Cambodia’s tax department collected $829 million in tax revenue during the first half of the year, 18 per cent more than during the same period a year earlier, led by surge in profit-tax revenue, according to government data released late on Tuesday.    ...