Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Customs collections increase

Customs collections increase

Revenue from customs duties and excise tax reached $1.31 billion during the first nine months of this year, a 16 percent increase compared to the same period last year, figures released on Monday show.

Khun Nhoem, general director of the General Department of Customs and Excise (GDCE), said that the $1.31 billion was equal to 81 percent of what is projected to be collected under Cambodia’s 2016 national budget.

“Based on the results achieved within this nine month period, we expect that [to] get total revenue collection of about $1.75 billion by the end of 2016,” he said.

According to the GDCE, the total revenue collected was primarily from the vehicle import tax, which raked in 41 percent of the $1.31 billion, while revenue from gasoline and energy imports accounted for another 21 percent. General goods accounted for 35 percent of the total sum.

Vong Seyvisoth, secretary of state at the Ministry of Economy and Finance, told the Post in August that the increase in revenue collection was because customs was striving to openly become transparent. Customs collected $1.58 billion in revenue in 2015, a 17.4 per cent increase compared to 2014.

0

Comments

Please, login or register to post a comment

Latest Video

Setting up a drone for flight. Photo supplied

How Cambodia's first drone company is helping farmers

SM Waypoint claims its unmanned aerial vehicles can help local farm and plantation owners increase their yields. Established in September 2015, SM Waypoint now has seven drone pilots, two sales staff and two accountants. Though the company focuses mainly on agricultural projects, the potential uses of the drones are extremely varied, going from measuring exact land height for building drainage systems to finding the most suitable location for special economic zones (SEZs) or factories.

New street food dish shakes things up at Russian Market

Though the bustling food stalls that emerge after dark next to Phnom Penh's Russian Market can seem intimidating to tourists at first glance, there are street food treats to be enjoyed by all, from Kep crab to a new shrimp dish created by the market's owners.

Turkish Embassy calls for closure of Zaman schools

With an attempted coup against the government of President Recep Erdogan quashed only days ago and more than 7,000 alleged conspirators now under arrest, the Turkish ambassador to Cambodia yesterday pressed the govern