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Business

The government has issued a decree that requires all businesses to put price tags on their products and services in riel to increase transparency for consumers and boost the use of the local currency.

The building of the Ministry of Economy and Finance, which has issued a only those taxpayers that follow stringent accounting principles will be allowed to apply for a minimum tax exemption.
Fri, 21 July 2017

Government clarifies exemptions for minimum tax

Nearly a year after the government announced that it would consider scrapping the controversial and burdensome 1 percent minimum tax obligation that is paid on monthly revenue flows, the Ministry of Economy and Finance has provided guidelines on how taxpayers who satisfy its accounting guidelines can obtain an exemption. According to a prakas signed by the finance minister on July 4 and obtained by The Post, the government has mandated that only those taxpayers that follow stringent accounting principles will be allowed to apply for the exemption. “Taxpayers who obtain the evaluation as having proper accounting record will be exempted from the minimum tax,” the decree reads.

A woman receives money from a finance officer at a Prasac Microfinance Institution branch in Phnom Penh in 2015.
Fri, 21 July 2017

Bond to funnel benefits to women

An $8 million bond set to debut on Singapore’s stock exchange will mobilise private capital to support social enterprises and microfinance institutions (MFIs) in Cambodia, Vietnam and the Philippines, providing nearly half a million

Fri, 21 July 2017

Thai experts advise on halal food production

The Ministry of Commerce and Thailand’s embassy in Cambodia held a joint workshop yesterday on developing standards for local halal products and to share the experience of Thailand’s $6 billion halal food industry.

Fri, 21 July 2017

GMAC seeks duty-free status on shoe exports

The Garment Manufacturers Association in Cambodia (GMAC) held a meeting with its member footwear producers yesterday to discuss the potential for the US to expand its GSP (Generalised System of Preferences) programme to include Camb

Thu, 20 July 2017

Tbong Khmum province struggles with debt

Tbong Khmum province, whose economy is heavily dependent on rubber and pepper farming, had the highest rate of delinquent consumer loans in the country last year, according to the latest credit bureau data, with the province’s non-p

A worker collects coagulated latex at a rubber plantation in Kampong Cham’s Memot district in 2014.
Thu, 20 July 2017

Rubber exports bounce higher

Cambodian rubber exports surged 37 percent during the first half of the year, compared to the same period in 2016, as the Kingdom’s rising harvest capacity coincided with firmer global demand for rubber products. Local producers exported 70,000 tonnes of rubber during the first six months of 2017, compared to 51,000 tonnes during the same period a year earlier, an agriculture official said yesterday. Pol Sopha, general director of the Rubber Department at the Ministry of Agriculture, said prices also improved during the first six months of the year, with the median export price on natural rubber rising 76 percent year-on-year to $1,771 per tonne. He said the improved prices should help plantation owners and farmers offset some of their losses from recent years, when prices nosedived on slower demand and a glut in world supply.

Traffic passes the Phnom Penh’s General Department of Taxation office.
Thu, 20 July 2017

Push to draw up Cambodia-Thai tax treaty

Representatives from the tax authorities of Cambodia and Thailand have agreed in principle to speed up a proposed double taxation agreement that would protect their nationals from dual taxation and encourage bilateral investment.

Wed, 19 July 2017

Central bank provides 16B riel in repo auction

The central bank held its 10th liquidity-providing collateral-ised operation (LPCO) yesterday, making 40 billion riel ($9.89 million) available to financial institutions in an auction, it said in a press release.

Wed, 19 July 2017

Senate OKs draft law on electricity purchases

The Senate approved a draft law yesterday that will guarantee the state’s purchase of electricity from two large-scale private energy projects.