News

US Taxman Provides Investigation Training

The U.S. tax collection agency is this week training Cambodian bank staff as well as anti-corruption officials, police, judges and prosecutors in how to investigate financial activity to detect wrongdoing, officials said Monday. U.S. Embassy spokesman Sean McIntosh said the program, called Intermediate Financial Investigations Training, ...

http://www.cambodiadaily.com/business/us-taxman-provides-investigation-training-40220/

Chamber wants new tax laws

The private sector has called on the government to review Cambodia’s taxation law, a statute that business leaders say is outdated and needs to change if Cambodia wants to continue to attract foreign investment. Led by Cambodia Chamber of Commerce (CCC) president Kith Meng, a delegation ...

http://www.phnompenhpost.com/business/chamber-wants-new-tax-laws

In Cambodia, Cyber Casinos Fall Into a Legal Gray Area

In 2010, the Ha Tien Vegas Entertainment Resort, a casino investment on Kampot province’s border with Vietnam that included luxury karaoke rooms and suites, launched with high hopes of attracting Vietnamese gamblers. At the end of December, Ha Tien Vegas closed down. To the north, in ...

http://www.cambodiadaily.com/selected-features/in-cambodiacyber-casinos-fall-into-a-legal-gray-area-38322/

Cambodia collects 470 mln USD in tax in first half of 2013

Cambodia’s General Department of Taxation said Tuesday that it had collected 470 million U.S. dollars of tax in the first six months of this year, up 21 percent compared with the same period last year. The country earned the tax of 740 million U.S. dollars ...

http://news.xinhuanet.com/english/world/2013-07/09/c_132525765.htm

Think Tank Says Investment Needed to Balance Growth

Government action is needed if Cambodia is to reach its potential for economic growth and address growing inequality, according to a new report from a leading local think tank. The recommendations were included in the Cambodian Development Resource Institute’s (CDRI) annual development review 2012 to ’13. ...

http://www.cambodiadaily.com

Mounting Foreign Concerns as 2013 Budget Plans Under Way

WASHINGTON DC – Seven opposition lawmakers say they have found new ways to reduce the national debt and are requesting that the National Assembly’s finance committee meet with them before drafting the 2013 national budget. The lawmakers, from the Sam Rainsy and Human Rights parties, say ...

http://www.voacambodia.com/content/mounting-foreign-concerns-as-2013-budget-plans-under-way/1557676.html

Tax revenue up from 2011

Cambodia collected $633 million in taxes over the first 10 months of this year, a 31 per cent rise from $483 million over the same period last year, according to the General Department of Taxation. However, an opposition watchdog claimed the amount is still far ...

http://www.phnompenhpost.com/index.php/2012110959666/Business/department-officials-say-tax-revenue-is-up-from-last-year.html

P Vihear officials under investigation

Two senior officials in Preah Vihear under investigation by the Anti-Corruption Unit have been removed from their posts, including a tax officer who it is alleged had gotten away without officially stamping tax forms for an entire year, the ACU announced on Friday “We found that ...

http://www.phnompenhpost.com/index.php/2012110559574/National-news/preah-vihear-officials-under-investigation.html

Credit bureau makes doing business easier

A report released by the World Bank on Tuesday highlighted Cambodia as the most improved country in terms of businesses getting credit, due to the establishment of the country’s first credit bureau in March. Cambodia ranked 133 out of 185 in the World Bank’s report, up from 141 ...

http://www.phnompenhpost.com/index.php/2012102559400/Business/credit-bureau-makes-business-easier.html

Hun Sen Says Pay Rise for Civil Servants Impossible

The country cannot afford to further increase the salaries of civil servants such as teachers and members of the armed forces, as to do so would require tax increases—a move that has already sparked protests across Europe, Prime Minister Hun Sen said yesterday. Speaking at a ...

http://www.cambodiadaily.com/news/hun-sen-says-pay-rise-for-civil-servants-impossible/

PM mocks pay-rise promises

Prime Minister Hun Sen mockingly declared that opposition pledges to increase the salaries of civil servants marked the arrival of “the season of promises” ahead of next year’s elections, during a speech yesterday. The premier deemed boosting salaries by reducing tax losses attributed to graft unfeasible  because ...

http://www.phnompenhpost.com/index.php/2012101059220/National-news/pm-mocks-pay-rise-promises.html

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. ...

Tobacco lost to smuggling, survey shows

Government data show that significant amounts of tobacco are being smuggled out of the country each year, health and economics experts said yesterday. A national tobacco survey from 2011, the exact numbers of which remain confidential, shows that more tobacco is produced in Cambodia than is ...

http://www.phnompenhpost.com/index.php/2012091958796/National-news/tobacco-lost-to-smuggling-survey-shows.html

WHO Urges Higher Taxes On Tobacco

The World Health Organization (WHO) yesterday urged Cambodia to increase taxes on cigarettes and other tobacco products-currently the lowest in the world-in order to raise revenue and deter smokers. Ayda Yurekli, coordinator of the WHO’s tobacco control economics unit, said during a workshop in Phnom Penh ...

Tobacco tax increase likely

Increasing the tobacco retail tax — one of the world’s lowest at 10 per cent of unit price for domestically produced cigarettes — would deter smokers and increase government revenue while having minimal effect on tobacco producers, Ayda Yurekli, co-ordinator for the World Health Organization’s ...

http://www.phnompenhpost.com/index.php/2012091858767/National-news/tobacco-tax-increase-likely.html

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