Cambodia to levy economic land concessions tax

Cambodian Prime Minister Hun Sen on Friday ordered investors in economic land concessions (ELC) to pay tax from the sixth year of their investment in a bid to speed up their agricultural production. The premier decided that investment companies receiving ELCs must pay the land tax of 5 U.S. dollars a hectare to the government from their 6th year of investment,” said the statement released after the Council of Ministers meeting. “The 5 U.S. dollar tax per hectare will be increased by 1 percent every year.” …

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