News
Cambodia earns $34.35 million e-commerce VAT from Facebook
Cambodia has generated approximately $34.35 million in revenue from the American multinational technology conglomerate Meta Platforms Inc. doing business as Meta or the Facebook Value Added Tax (VAT) in 2022 and 2023, said the figures of tax revenue released Sunday by former Prime Minister Hun ...
Kang Sothear
https://www.khmertimeskh.com/1354671/cambodia-earns-34-35-million-e-commerce-vat-from-facebook/
Online biz registrations surging
The total capital of 28,618 companies registered in the online business registration system jumped to $8.4 billion as of Aug 27, compared to 20,693 companies with a total capital of $5.8 billion at the start of 2023. ...
Hin Pisei
https://www.phnompenhpost.com/business/online-biz-registrations-surging
GDT hopes to collect over 107% projected tax revenue for 2023
Tax revenue in 2023 is expected to achieve 107.5 per cent of the 2023 Law on Financial Management, though the projection is lower than the collection achievement last year. ...
Hin Pisei
https://www.phnompenhpost.com/business/gdt-hopes-collect-over-107-projected-tax-revenue-2023
GDT earns $46 million on e-commerce VAT income
The General Department of Taxation earned e-commerce value-added tax (VAT) income of $46 million from the operation of electronic goods and services in the first seven months of this year, according to official figures yesterday. ...
Chea Vanyuth
https://www.khmertimeskh.com/501348840/gdt-earns-46-million-on-e-commerce-vat-income/
GDT revises special tax on non-alcoholic beverage products
The General Department of Taxation (GDT) of the Ministry of Economy and Finance (MEF) has revised special tax on non-alcoholic beverages or drink products that are produced in Cambodia to a higher rate for those products that are believed to negatively affect people’s health and ...
Kang Sothear
https://www.khmertimeskh.com/501344132/gdt-revises-special-tax-on-non-alcoholic-beverage-products/
Tax revenue of $2.3b meets nearly 65% of GDT target
The continuous reform of tax procedures and understanding taxpayers have helped the tax revenue increase steadily, industry observers say. ...
Hin Pisei
https://www.phnompenhpost.com/business/tax-revenue-23b-meets-nearly-65-gdt-target
GDT raises taxes on non-alcoholic beverages
The General Department of Taxation (GDT) has announced new tax rates on locally-produced, non-alcoholic beverage products, according to the Ministry of Economy and Finance (MEF). ...
Mon Sokeo
https://kiripost.com/stories/gdt-raises-taxes-on-non-alcoholic-beverages
Kingdom collects $2.79 billion in tax revenue in 1H
Cambodia collected 11,497.98 billion riels (approximately $2.79 billion) from all sources of taxes in the first half of 2023, which is equivalent to 49.1 percent of the target ($5,692 million) for the year, according to the Ministry of Economy and Finance’s report. ...
Chea Vanyuth
https://www.khmertimeskh.com/501339088/kingdom-collects-2-79-billion-in-tax-revenue-in-1h/
Pay taxes on time, GDT urges taxpayers
Taxpayers should ensure proper implementation and timely tax declaration to avoid interruptions on the last tax declaration day, the General Department of Taxation said, noting that it makes adjustments and is continuously developing information technology systems to make it easier for taxpayers. ...
Hin Pisei
https://www.phnompenhpost.com/business/pay-taxes-time-gdt-urges-taxpayers
Government collectS more than $2 billion in taxes in H1
According to the online revenue management system of the General Department of Taxation, in the first half of 2023, taxes collected totalled 8,393.17 billion riels or approximately $2.072 billion. ...
Khmer Times Staff
https://www.khmertimeskh.com/501324387/government-collects-more-than-2-billion-in-taxes-in-h1/
NBC sets new capital, risk rules for banks, financial institutions
The National Bank of Cambodia (NBC) yesterday released two proclamations that set new requirements for depositing-taking banks and financial institutions to strengthen the quality of their capital to increase the effectiveness of preventing main banking risks and assess credit risks at lower rates to boost ...
Kang Sothear
https://www.khmertimeskh.com/501318139/nbc-sets-new-capital-risk-rules-for-banks-financial-institutions/
MEF will soon gather taxable real estate data
The Ministry of Economy and Finance (MEF) on Monday released a proclamation to collect and compile real estate data in four new towns of three different provinces in Cambodia by providing tax exemption to owners who have immovable properties registered with the General Department of ...
Kang Sothear
https://www.khmertimeskh.com/501303667/mef-will-soon-gather-taxable-real-estate-data/
New ‘Taxation Law’ a shot in the arm for taxpayers
The new Taxation Law encompassing the earlier provisions of the taxation law (1997), annual budget laws of the Kingdom of Cambodia time and decrees and codes of the People’s Republic of Kampuchea (PRK) and the State of Cambodia (SOC) is seen as simple, flexible and ...
Kang Sothear
https://www.khmertimeskh.com/501302182/new-taxation-law-a-shot-in-the-arm-for-taxpayers/
GDT announces collection of tax on means of transportation and all types of vehicles for 2023
The General Department of Taxation on May 30, issued a notification to collect tax on all means of transportation and vehicles for 2023 from June 1 to November 30, 2023. ...
Khmer Times Staff
https://www.khmertimeskh.com/501299770/gdt-announces-collection-of-tax-on-means-of-transportation-and-all-types-of-vehicles-for-2023/
33% rise in tax registrations Q1
The General Department of Taxation (GDT) registered 3,566 new businesses in the first quarter of the year, a year-on-year increase of 33 percent, a report said yesterday. ...
Chea Vanyuth
https://www.khmertimeskh.com/501284689/33-rise-in-tax-registrations-q1/
GDT brings in $20.9M of e-commerce VAT over Q1
The General Department of Taxation (GDT) announced that it collected 84.67 billion riel, or $20.91 million, in value-added tax (VAT) from e-commerce in the first quarter of the year, which is seen as a reflection of the boom in online transactions witnessed since the advent ...
May Kunmakara
https://www.phnompenhpost.com/business/gdt-brings-209m-e-commerce-vat-over-q1
GDT, banks vow to step up tax payment efficiency
The finance ministry has to-date signed memorandums of understanding (MoU) with 10 banks to process tax-related payments to the General Department of Taxation (GDT), one of its subordinate units. ...
Van Socheata
https://www.phnompenhpost.com/business/gdt-banks-vow-step-tax-payment-efficiency
GDT collects $1.34 billion in Q1 amid challenges
The General Department of Taxation (GDT) of the Ministry of Economy and Finance (MEF) has collected more than $1.34 billion of tax revenue in the first three months of 2023, an increase of 6.39 percent compared to the same period of the previous year, while ...
Kang Sothear
https://www.khmertimeskh.com/501280694/gdt-collects-1-34-billion-in-q1-amid-challenges/
Cambodia earns nearly $21 million in taxes from e-commerce
Cambodia’s General Department of Taxation (GDT) made e-commerce value-added tax (VAT) income of $20.9 million from the operations of electronic goods and services in the first quarter of 2023, a GDT report said on Monday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501278795/cambodia-earns-nearly-21-million-in-taxes-from-e-commerce/
GDT, GDCE revenues top $1.9B, pass 30% of 2023 goal
The finance ministry’s taxation and customs departments collectively netted $1.908 billion in revenues in the first quarter of 2023, marking just over 30 per cent of the full-year target, official figures show. ...
Hin Pisei
https://www.phnompenhpost.com/business/gdt-gdce-revenues-top-19b-pass-30-2023-goal
Cambodia collects $1.9 billion taxes in Q1
Cambodia collected $1.9 billion from all sources of taxes in the first quarter (Q1) of 2023, up 2 percent from nearly $1.86 billion in the same period last year, according to press statements released on Thursday. ...
Khmer Times Staff
https://www.khmertimeskh.com/501273079/cambodia-collects-1-9-billion-taxes-in-q1/
Government approves new draft law on taxation
The Cambodian government on Friday approved a new draft taxation law which is said to contribute to promoting and enhancing the Cambodian business sector, increase the favorable investment environment, and strengthen fiscal compliance. ...
Chea Vanyuth
https://www.khmertimeskh.com/501266503/government-approves-new-draft-law-on-taxation/
Cambodia faces serious tax crimes, says Kong Vibol
Tax, economic, financial and money-laundering crimes have become major impediments in Cambodia’s march to progress said Kong Vibol, Director General of the General Department of Taxation (GDT) on Thursday. Internal tax authorities have been seriously facing tax crimes, he observed. ...
Kang Sothear
https://www.khmertimeskh.com/501261473/cambodia-faces-serious-tax-crimes-says-kong-vibol/
Taxation law may take effect in ‘next 2-3 months’: GDT
The new Law on Taxation may be promulgated as soon as “in the next two or three months”, replacing the 1997 original, aiming to bring the Cambodian tax regime more in line with current and anticipated international standards and economic environment, as well as to ...
May Kunmakara
https://www.phnompenhpost.com/business/taxation-law-may-take-effect-next-2-3-months-gdt