Government

Taxation

Policy against economic risks turns to action

The Ministry of Economy and Finance on Tuesday issued two separate letters to its General Department of Taxation (GDT) and its General Department of Customs and Excise (GDCE) ordering immediate action to mitigate risk to the Kingdom’s economy. ...

May Kunmakara
https://www.phnompenhpost.com/business/policy-against-economic-risks-turns-action

No more stamp duty on homes sold under $70k

The government has decided to exempt the 4 percent stamp tax on all residential properties valued less than $70,000 until January to contribute to sustaining the country’s economic growth. ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50695071/no-more-stamp-duty-on-homes-sold-under-70k

Four-month tax break for hotels and guesthouses in Siem Reap

Prime Minister Hun Sen announced yesterday that all registered hotels and guesthouses in Siem Reap will be exempt of all taxes from February until May this year.   ...

Sok Chan
https://www.khmertimeskh.com/50694704/four-month-tax-break-for-hotels-and-guesthouses-in-siem-reap

GDT says revenues up 15% in January

The General Department of Taxation (GDT) collected about 956.76 billion riel ($239.19 million) in tax revenue in January, up 14.74 per cent compared to the same period last year. This is a positive step towards its target of collecting more than $2.885 billion by year’s end, ...

May Kunmakara
https://www.phnompenhpost.com/business/gdt-says-revenues-15-january

Tax-free brackets adjusted

The government has raised the tax-free bracket from 1.2 million riel (about $300) to 1.3 million (about $320) in a move to ensure civil servants due for raises this year are not subjected to income tax. A sub-decree signed by Prime Minister Hun Sen earlier this ...

Long Kimmarita
https://www.phnompenhpost.com/national/tax-free-brackets-adjusted

Tax incentives offered to SMEs that register

Tax preferences have been offered to small and medium enterprises (SMEs) as incentives for encouraging informal ones to register and update business information.​ ...

Chea Vannak
https://www.khmertimeskh.com/50692394/tax-incentives-offered-to-smes-that-register

Stricter tax collection puts $2.9 billion target in sight

The General Department of Taxation (GDT) announced it aims to collect a total of $2,886 million in tax revenue this year. In January, it had already collected about $239 million, accounting for 8.3 per cent of the annual target and an increase of 14.75 per ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50692368/stricter-tax-collection-puts-2-9-billion-target-in-sight

Gov’t to spend $50M to cut electricity tax for industries

The government will spend some $50 million in subsidies to reduce electricity tariffs by $0.01 per kilowatt-hour for the industrial and agricultural sectors from this month, Ministry of Mines and Energy senior official Victor Jona said on Sunday. ...

Thou Vireak
https://www.phnompenhpost.com/business/govt-spend-50m-cut-electricity-tax-industries

Tax revenues exceed 2019 projections

Sound macro-economic performance coupled with political stability resulted in the Kingdom collecting some $6 billion in tax last year, up more than $1.485 billion on the government’s target of $4.56 billion for the period. Of the figure, $2.26 billion was collected by the General Department ...

May Kunmakara
https://www.phnompenhpost.com/business/tax-revenues-exceed-2019-projections

GDT: ‘Tax reforms won’t harm corporations’

The General Department of Taxation (GDT) released a statement on Wednesday aiming to quash fears that the Kingdom’s tax reforms would adversely affect corporate taxpayers, saying the moves are meant to “strengthen tax collection transparently and equitably”. ...

Thou Vireak
https://www.phnompenhpost.com/business/gdt-tax-reforms-wont-harm-corporations

Crackdown on vehicles with unpaid tax

The General Department of Customs and Excise at the Ministry of Economy and Finance vowed to take legal action against those using vehicles with unpaid tax and unapproved modifications after relevant authorities had advised them through educational announcements. General Department of Customs and Excise director-general ...

Voun Dara
https://www.phnompenhpost.com/national/crackdown-vehicles-unpaid-tax

Singapore tech to increase national tax revenue

The General Department of Taxation (GDT) is sourcing for an advanced IT system in Singapore to modernise the Kingdom’s tax system and improve its collection process and efficiency. ...

May Kunmakara
https://www.phnompenhpost.com/business/singapore-tech-increase-national-tax-revenue

Gov’t to raise 20% more tax revenue

As part of efforts to achieve a sound macroeconomy, the government plans to increase the revenue raised from taxation and customs and excise by more than 20 per cent next year. The 2020 national budget law approved on Tuesday targets a 28.1 per cent increase in ...

May Kunmakara
https://www.phnompenhpost.com/business/govt-raise-20-more-tax-revenue

Modernisation in IT system increases GDT’s tax collection

Modernizing the tax system through automation has helped increase revenue and transparency in the Kingdom’s tax sector. The General Department of Taxation (GDT) said tax collection had increased by more than 28 per cent in the first 10 months of the year. ...

Thou Vireak
https://www.phnompenhpost.com/business/modernisation-it-system-increases-gdts-tax-collection

GDT collects $2.4B in revenue from taxation in first 10 months

The government collected $2.40 billion in revenue from taxation during the first 10 months of this year – up 28.31 per cent year-on-year from $1.873 billion – a report from the General Department of Taxation (GDT) said on Monday. ...

Hin Pisei
https://www.phnompenhpost.com/business/gdt-collects-24b-revenue-taxation-first-10-months

Fiscal revenue to surpass 2019 target by $1 billion: Prime Minister

The prime minister, speaking at a graduation ceremony at the National Institute of Education, said income from customs and excise will surpass the target set for 2019 by $700 to $800 million.​ ...

Chea Vannak
https://www.khmertimeskh.com/50661039/fiscal-revenue-to-surpass-2019-target-by-1-billion-prime-minister/

PM confident EBA outcome will not impact Kingdom

As the government reviews a European Commission preliminary report on whether Cambodia should retain its Everything-but-Arms preferential trade status, Prime Minister Hun Sen has said that the Kingdom has strong financial foundations to sustain itself with or without the EBA. “Someone said we will suffer ...

Ben Sokhean
https://www.khmertimeskh.com/50660990/pm-confident-eba-outcome-will-not-impact-kingdom/

TI Cambodia: More awareness of national budget to boost transparency

Transparency International Cambodia (TI Cambodia) organised a debate on the national budget income on Friday to raise awareness on the matter. The NGO urged the public to know more about the issue to increase the level of transparency in the national budget’s income and expenditure. ...

Long Kimmarita
https://www.phnompenhpost.com/national/ti-cambodia-more-awareness-national-budget-boost-transparency

GDCE’s revenue up 35 percent

Revenue at the General Department of Customs and Excise (GDCE) saw a significant increase during the first nine months of the year, growing by 35 percent over the corresponding period last year, GDCE’s director said last week. From January to September, the department collected almost $2.4 ...

Chhut Bunthoeun
https://www.khmertimeskh.com/50652815/gdces-revenue-up-35-percent/

Government collects $4.5B in revenue from tax, customs

A report from the General Department of Taxation (GDT) released on Wednesday showed that the department collected $2.183 billion in taxes, while Prime Minister Hun Sen on the same day announced that $2.384 billion in customs and excise duties was collected during the period. GDT ...

Thou Vireak
https://www.phnompenhpost.com/business/government-collects-45b-revenue-tax-customs

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