News
Cambodia, Vietnam ink double taxation agreement
Cambodia has signed a double taxation agreement with Vietnam that protects each country’s nationals from dual taxation, according to a news release from the General Department of Taxation released on Tuesday. The agreement was signed on Saturday on the sidelines of the Greater Mekong Subregion ...
Hor Kimsay
https://www.phnompenhpost.com/business/cambodia-vietnam-ink-double-taxation-agreement
Nearly 6,000 vehicles with unpaid tax
Tax on nearly 6,000 vehicles across the country has not been paid on time as required, according to an inspection by the Ministry of Economy and Finance’s General Department of Taxation. A press release by the GDT signed on March 16 and released yesterday said the ...
Mom Sophon
http://www.khmertimeskh.com/50114699/nearly-6000-vehicles-with-unpaid-tax/
CDC opens tax desk to advise foreign firms
The Council for the Development of Cambodia (CDC) established a tax desk at their offices that will be staffed by employees from the General Department of Taxation, in hopes of easing the burden of registration for foreign companies. ...
Post Staff
http://www.phnompenhpost.com/business/cdc-opens-tax-desk-advise-foreign-firms
Tax revenue exceeds expectations following reforms
The General Department of Taxation (GDT) collected $1.93 billion in tax revenue last year, a 30 percent increase over 2016 and well above the government’s own projections, according to the department’s director, Kong Vibol. ...
Hor Kimsay
http://www.phnompenhpost.com/business/tax-revenue-exceeds-expectations-following-reforms
GDT now allows you to pay the tax man online
The General Department of Taxation (GDT) announced yesterday that it has officially launched an e-payment platform that allows individual and corporate taxpayers to pay their obligations online and directly through bank accounts, a move that businesses in the Kingdom hope will trim waiting periods. ...
Hor Kimsay
http://www.phnompenhpost.com/business/gdt-now-allows-you-pay-tax-man-online
Daily directors barred from leaving country
The Tax Department yesterday issued a letter asking the Immigration Department to prevent Deborah Krisher-Steele and Douglas Steele – both representatives of the Cambodia Daily – from leaving the country, a day after department head Kong Vibol said he would continue to pursue the tax ...
Niem Chheng
http://www.phnompenhpost.com/national/daily-directors-barred-leaving-country
Government rebuts political motive for tax investigations
An Economy and Finance Ministry spokesman denied any political motive for investigating NGOs and media outlets over tax payments on Tuesday, saying private enterprises were also under scrutiny. ...
Phan Soumy
https://www.cambodiadaily.com/news/government-rebuts-political-motive-for-tax-investigations-133668/
Cambodia Daily slapped with huge tax bill
Government-aligned media outlet Fresh News has published a leaked letter from the Taxation Department to the Cambodia Daily claiming that it owes $6.3 million in back taxes, a disclosure accompanied by scathing anonymous “letters” attacking the English-language newspaper and prominent NGOs. ...
Phak Seangly and Shaun Turton
http://www.phnompenhpost.com/national/cambodia-daily-slapped-huge-tax-bill
Tax pulled after mutiny
Just one day after the Kingdom’s microlenders mutinied and said they would not implement a government directive requiring all financial institutions to implement a 10 percent value-added tax (VAT) on fees for financial services, the Tax Department announced it would back down and temporarily suspend ...
Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/tax-pulled-after-mutiny
GDT’s hands tied on sign fees
The tax authority yesterday refuted local media claims that it had endorsed a private sector call to end Phnom Penh City Hall’s taxation of billboards and commercial signage throughout the capital, which advocates have said imposes an onerous levy on local businesses. ...
Hor Kimsay
http://www.phnompenhpost.com/business/gdts-hands-tied-sign-fees
GDT officials work on tax treaty with Hong Kong
Cambodian tax officials met with their counterparts in Hong Kong last week as part of the first round of discussions for drafting a double taxation agreement (DTA) aimed at preventing dual taxation and fiscal evasion, the General Department of Taxation (GDT) said yesterday in a ...
Hor Kimsay
http://www.phnompenhpost.com/business/gdt-officials-work-tax-treaty-hong-kong
Tax collection soars
Tax collections rose to $768 million in the first quarter of this year, a 92 percent rise on the same period last year. General department of taxation director-general Kong Vibol told a meeting chaired by Finance Minister Aun Pornmoniroth yesterday that the collection figure was a ...
Sum Manet
http://www.khmertimeskh.com/news/37671/tax-collection-soars/
Soft tax approach sends mixed signals
The Tax Department has announced a one-month extension to its traditional March 31 deadline for companies to submit their annual corporate tax filings – an unprecedented last-minute move that some legal experts argue could be sending the wrong message to taxpayers. ...
Kali Kotoski
http://www.phnompenhpost.com/business/soft-tax-approach-sends-mixed-signals
ANZ to offer online tax payment system
ANZ Royal customers will be able to make tax payments in local currency and in US dollars at all bank branches and online starting in April following the signing of a memorandum of understanding (MoU) with the Economy and Finance Ministry on Friday. ...
Sok Chan
http://www.khmertimeskh.com/news/35105/anz-to-offer-online-tax-payment-system/
Tax tweak makes it hard to hide
An amendment to the tax code gives government auditors clearer authority to access individual and corporate financial data, providing a tool to identify tax evasion and a deterrent to prevent it, tax professionals said yesterday. ...
Kali Kotoski
http://www.phnompenhpost.com/business/tax-tweak-makes-it-hard-hide
Tax app launched next year
The first ever smartphone tax app is set to be launched next year in an effort to make tax payments by companies more transparent. The app developed by the General Department of Taxation (GDT) of the Ministry of Finance and Economy, is a platform for individuals ...
Chea Vannak
http://www.khmertimeskh.com/news/31521/tax-app-launched-next-year/
43 awarded tax agent licenses
As part of ongoing government efforts to modernize and streamline the country’s tax system, 43 tax agent licenses were awarded yesterday. The 43 companies are now legally recognized as offering tax declaration services to the public and private sectors. Eighteen had previously been doing this work ...
Chea vannak
http://www.khmertimeskh.com/news/31518/43-awarded-tax-agent-licenses/
Chinese dual tax burden relieved
An extensive tax treaty that would shield Chinese businesses operating in the Kingdom from double taxation, and vice versa, has been drafted and is expected to be approved imminently, according to a senior Cambodian tax official. ...
Kali Kotoski
http://www.phnompenhpost.com/business/chinese-dual-tax-burden-relieved
Tax change to benefit employees
The government’s tax collection body has extended the fringe benefit tax exemption to several new industries, removing the 20-percent tax that employers were previously required to pay on the benefits they offered to their workers. ...
Kali Kotoski and Hor Kimsay
http://www.phnompenhpost.com/business/tax-change-benefit-employees
Government considers delay of business registration
Fewer than half of Cambodia’s 42,000 registered businesses have met the government’s deadline for reregistering online, prompting the Ministry of Commerce to consider another extension, a spokeswoman said on Tuesday. ...
Kang Sothear
https://www.cambodiadaily.com/business/government-considers-delay-business-registration-118856/
Non-taxpayers targeted
The government will not increase the rate for income tax and other taxes for the next two years, but will instead concentrate on expanding the base for tax collection, taking into account that there are still many individuals and businesses that do not pay tax ...
Sok Chan
http://www.khmertimeskh.com/news/30034/non-taxpayers-targeted/
Tax revenue rises 20%
Tax revenue in the first seven months of the year was $955 million, an increase of 18.91 percent over the same period last year, according to a report from the General Department of Taxation (GDT). ...
Sum Manet
http://www.khmertimeskh.com/news/28505/tax-revenue-rises-20-/
Profit-tax revenue leads first half surge
Cambodia’s tax department collected $829 million in tax revenue during the first half of the year, 18 per cent more than during the same period a year earlier, led by surge in profit-tax revenue, according to government data released late on Tuesday. ...
Memorandum to fight money laundering
The General Department of Taxation (GDT) signed a memorandum of understanding with the Financial Intelligence Unit of the National Bank of Cambodia (FIUNBC) to exchange information on money laundering and the financing of terrorist activities. ...
Sum Manet
http://www.khmertimeskh.com/news/26678/memorandum-to-fight-money-laundering/