Hun Sen Announces Tax on Land Concessions
Prime Minister Hun Sen on Friday amended a directive on economic land concession (ELC) taxes, which will mean that owners of agricultural ELCs must pay tax of $5 on every hectare of land after the fifth year of ownership, according to the Council of Ministers. Mr. Hun Sen has also banned the transfer of ownership rights of land concessions from original grantees, according to a statement from the Council of Ministers. The new tax, which will increase at the rate of 1 percent annually, is aimed at boosting government revenues from the land concession sector, which has so far been untaxed. …
