Ministry of Economy and Finance

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. ...

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. ...

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). ...

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. ...

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. ...

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. ...

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”. ...

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. ...

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). ...

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. ...

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). ...

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. ...

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. ...

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. ...

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. ...

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. ...

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. ...

The Securities and Exchange Commission of Cambodia (SECC) on January 5 approved in principle a handful of applications for licences. In a press release on the minutes of an SECC meeting led by chairman and Minister of Economy and Finance Aun Pornmoniroth, the securities regulator ...

The government on December 28 held an inter-ministerial meeting to discuss setting up a digital television platform as part of the Kingdom’s shift away from analogue. Held at the Ministry of Economy and Finance, the meeting discussed the would-be platform operator’s models of management and ...

Cambodian importers and exporters can now apply for ASEAN Customs Declaration Documents (ACDD) electronically through the ASEAN Single Window (ASW), the General Department of Customs and Excise of Cambodia (GDCE) said on December 24. ...

The Entrepreneurship Development Fund  (EDF) Board of Trustees convened last week to review some of EDF’s notable achievements in 2020 in supporting Cambodia’s growing entrepreneurial ecosystem. ...

The Ministry of Economy and Finance, Ministry of Commerce and Ministry of Post and Telecommunications held a joint meeting last week to discuss the potential collection of a digital services tax. ...

The Cambodian government has projected the country’s per capita gross domestic product (GDP) will reach $1,771 by the end of 2021, up from $1,600 this year, an anticipated increase of 10.6 percent. ...

General Department of Taxation (GDT) has announced to the taxpayers that it has terminated the electronic value added tax refund system (E-VAT Refund System), replacing it with the electronic filing system (E-Filing System), according to the GDT’s announcement. ...