Government
Taxation
Tax collection ‘strong’
The government’s tax collection remains strong even during the COVID-19 pandemic, reaching more than $2.25 billion in the first nine months of this year, according to a report by the General Department of Taxation (GDT). ...
Sorn Sarath
https://www.khmertimeskh.com/50772989/tax-collection-strong/
Tax dept launches mediation tool
The General Department of Taxation (GDT) has officially launched a mediation software tool to help with financial management information systems and tax data management. The purpose of introducing it is to modernise and automate revenue-sharing data between the tax data management and financial information. ...
Sorn Sarath
https://www.khmertimeskh.com/50766648/tax-dept-launches-mediation-tool/
High oil tax ‘a burden’ on development
The high-rate of special tax of 10-25 percent on oil for production is one of the burdens facing the advancement of manufacturing industries in Cambodia that have a target to increase added-value by using machinery in the production chain, according to the Japanese Business Association ...
Sorn Sarath
https://www.khmertimeskh.com/50764153/high-oil-tax-a-burden-on-development/
Cambodia collects $2.95 billion as fiscal revenue in first half of 2020
The Royal Government of Cambodia collected $2,956 billion as revenue from all sources of taxes, a slight decrease of 0.7 percent compared to the same period last year. ...
Chea Vannak/AKP
https://www.khmertimeskh.com/50746069/cambodia-collects-2-95-billion-as-fiscal-revenue-in-first-half-of-2020/
Cambodia collected $1.6 billion in tax revenue
The General Department of Taxation (GDT) collected 6,820.48 billion Riel (approximately $1,684 million) in tax revenue in the first semester of this year, a 12 percent increase compared to the same period last year. ...
Chea Vannak
https://www.khmertimeskh.com/50744480/cambodia-collected-1-6-billion-in-tax-revenue/
Electronic tax filing for medium and large payers
The General Department of Taxation (GDT) has officially now put into operation an electronic filing system for all medium and large taxpayers starting from early this month, according to a senior official of the department. ...
Sok Chan
https://www.khmertimeskh.com/50730465/electronic-tax-filing-for-medium-and-large-payers/
Gov’t offers tax exemption
The government has issued a three-month minimum tax exemption for the aviation sector and an exemption on all types of monthly taxes for tourism operators, it said in a press release on Tuesday. ...
Thou Vireak
https://www.phnompenhpost.com/business/govt-offers-tax-exemption
Government permits tax exemptions on specific goods
The government has issued income tax exemptions for the textile and garment, footwear and luggage sectors that produced export goods hit by the European Union’s 20 percent Everything but Arms (EBA) tariff-free status withdrawal in February. ...
Sok Chan
https://www.khmertimeskh.com/50706195/government-permits-tax-exemptions-on-specific-goods/
New tax rates announced for businesses and employees
The Ministry of Economy and Finance has revised the tax rates for all business owners and employees in Cambodia. Employers were instructed to deduct employee taxes according to the new rates from February onwards. Taxpayers have to submit the tax declaration by the 20th of ...
Voun Dara
https://www.phnompenhpost.com/national/new-tax-rates-announced-businesses-and-employees
Custom revenue grows by almost 20 percent over last five years
The General Department of Customs and Excise (GDCE) said its revenue collection has seen a remarkable growth over the last five years, with an average 19.5 percent increase a year since 2014. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50701921/custom-revenue-grows-by-almost-20-percent-over-last-five-years/
GDT crackdown returns over $1 million in unpaid tax fines
The General Department of Taxation (GDT) has collected more than $1 million in fines from more than 5,000 vehicles that have not paid their 2019 tax on time. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50701111/gdt-crackdown-returns-over-1-million-in-unpaid-tax-fines
Deadline set to apply for DTA tax benefits
The General Department of Taxation (GDT) has announced that companies wanting to benefit from tax cuts resulting from the country’s double taxation avoidance (DTA) agreements must send in their applications before March 31. ...
May Kunmakara
https://www.phnompenhpost.com/business/deadline-set-apply-dta-tax-benefits
Microfinance commits to fulfilling tax obligations
Cambodia Microfinance Association (CMA) yesterday said it has taken steps to fulfill its tax obligations to the government. ...
Chhut Bunthoeun
https://www.khmertimeskh.com/50696115/microfinance-commits-to-fulfilling-tax-obligations
Government income beats 2019 target
The government hit a 20-year record in fiscal revenues from tax and Customs and Excise last year, exceeding the target and rising nearly a third year-on-year. Together they were nearly equal to planned expenditure. ...
Chea Vannak
https://www.khmertimeskh.com/50696032/government-income-beats-2019-target
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