News

Cambodia’s trade deficit widens to $7.66 billion

Cambodia’s trade deficit with its global trading partners has continued to widen in 2019, with $7.66 billion more  imports than exports, according to a government report, increasing from $4.83 billion in 2018 and representing a 31.6 percent rise in one year. ...

Chea Vannak
https://www.khmertimeskh.com/50698301/cambodias-trade-deficit-widens-to-7-66-billion

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

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

Garment, textile, footwear exports nearly $8B in Q1-Q3

Cambodia exported more than $7.97 billion worth of garment, textile and footwear (GTF) products in the first nine months of this year, up 13.18 per cent year-on-year from $7.044 billion, a report from the Ministry of Economy and Finance’s General Department of Customs and Excise ...

Thou Vireak
https://www.phnompenhpost.com/business/garment-textile-footwear-exports-nearly-8b-q1-q3

Rubbish at S’ville port from US, Canada

The plastic waste found in 83 containers at the Sihanoukville Autonomous Port on Tuesday came from the US and Canada, the Ministry of Environment said. The huge shipment of rubbish weighed some 1,600 tonnes. ...

Soth Koemsoeun
https://www.phnompenhpost.com/national/rubbish-sville-port-us-canada

Commerce ministry makes $82M

The Ministry of Commerce generated more than $82 million this year in customs and public services, according to the ministry’s annual report. ...

Cheng Sokhorng
https://www.phnompenhpost.com/business/commerce-ministry-makes-82m

Customs unit to get choppers to fight smuggling: PM

Prime Minister Hun Sen yesterday said that the Cambodian customs unit will have helicopters equipped with weapons to stamp out smuggling. ...

Khuon Narim
https://www.khmertimeskh.com/50504920/customs-unit-to-get-choppers-to-fight-smuggling-pm/

Aid boost for customs development

The Japanese government on Tuesday pledged to donate two patrol boats to the General Department of Customs and Excise. The announcement was made in a meeting between Economy Minister Aun Ponmonirath and Iizuka Atsushi, director-general of Japan’s Customs Bureau. ...

Ven Rathavong
http://www.khmertimeskh.com/50101351/aid-boost-customs-development/

Garment exports to slow

Cambodia’s garment and footwear exports will likely see a slower percentage of growth this year at around 5 percent, compared with 7 percent in 2016, a trend that industry insiders dismissed as not being indicative of an overall decline or linked to the current political ...

Hor Kimsay and Robin Spiess
http://www.phnompenhpost.com/business/garment-exports-slow

Trade with US normal, says ministry

Despite a diplomatic row with the United States, the trade relationship between Cambodia and the US remains normal, said the Ministry of Commerce’s spokesperson yesterday. ...

May Kunmakara
http://www.khmertimeskh.com/5082797/trade-us-normal-says-ministry/

Vietnamese data show timber exports are continuing

According to the figures, Vietnam imported 21,670 cubic metres of sawn wood valued at $13.7 million in April, a 27 percent drop compared to February and an almost 50 percent decrease compared to March. ...

Shaun Turton and Niem Chheng
http://www.phnompenhpost.com/national/vietnamese-data-show-timber-exports-are-continuing

Budget for 2017 to increase by $5 bil

The government plans to increase the 2017 national budget by 15.7 percent, to more than $5 billion – representing an increase over this year’s government expenditure of more than $4.3 billion – a government source said yesterday. ...

May Kunmakara
http://www.khmertimeskh.com/news/31046/budget-for-2017-to-increase--by--5-bil/

Tax collection goes up by 21.6 percent

The government’s tax revenue collection rose to about 21.6 percent in the first five months of this year, compared with the same period last year, with some $708.2 million filling state coffers, according to the Ministry of Economy and Finance’s General Department of Taxation (GDT). ...

Sok Chan
http://www.khmertimeskh.com/news/26024/tax-collection-goes-up-by-21-6-percent/

Tax revenue fills coffers of the state

The government’s tax revenue saw a sharp increase of about 22 percent in the first five months of the year, compared with the same period last year, with some $763 million collected by the General Department of Customs and Excise. ...

Sum Manet
http://www.khmertimeskh.com/news/25916/tax-revenue-fills-coffers-of-the-state/

Customs revenue up by 30 pct in first quarter

Revenue from customs duties and excise tax grew by around 30 per cent to $472 million during the first quarter of the year ...

Post Staff
http://www.phnompenhpost.com/business/customs-revenue-30-pct-first-quarter

Phone retailers ordered to pay tax on inventories

Following raids on phone shops selling grey-market devices last week, the government is giving retailers a two-week window to declare their stock of mobile phone handsets and pay the relevant taxes or face hefty fines.Many of the capital’s vendors have already received a notice from ...

Cheng Sokhorng
http://www.phnompenhpost.com/business/phone-retailers-ordered-pay-tax-inventories

Raid reveals 1,800 smuggled smartphones

Customs authorities seized nearly 1,800 smuggled Huawei smartphones during a raid on Monday on a private residence in Phnom Penh’s Tuol Kork district, a customs official said yesterday. ...

Post Staff
http://www.phnompenhpost.com/business/raid-reveals-1800-smuggled-smartphones

Rogue moto market raided, but no arrests

Customs officials and local police yesterday raided a motorbike market in Phnom Penh’s Prampi Makara district they said was illegally selling vehicles without licence plates or paperwork. ...

Sen David
http://www.phnompenhpost.com/national/rogue-moto-market-raided-no-arrests

Officials impound eight luxury vehicles to collect unpaid tax

Officials impounded eight luxury vehicles in the past week, including four over the weekend, after the customs department and military police began stopping cars in Phnom Penh looking for vehicles brought into the country without their owners having paid the proper import tax.​ ...

Aun Pheap
https://www.cambodiadaily.com/news/officials-impound-eight-luxury-vehicles-to-collect-unpaid-tax-98237/

Special tax on QIP rolled back

The Ministry of Economy and Finance last week did away with a special tax on imported products that were being used for re-export, after Japanese businesses said that it undermined their status as Qualified Investment Projects. Under the Qualified Investment Projects (QIP) scheme, firms can ...

Charles Rollet
http://www.phnompenhpost.com/business/special-tax-qip-rolled-back

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