Search form

Login - Register | FOLLOW US ON

Logo of Phnom Penh Post newspaper Phnom Penh Post - Tax revenue surges once again amid investment

Tax revenue surges once again amid investment

Tax revenue increased more than 20 per cent in the first five months of 2013 when compared with the same period last year, a rise that officials once again attributed to a surge in new business and investment.

According to data from the General Department of Taxation (GDT), the total tax revenue from January through May amounted to $394 million, a rise of nearly 24 per cent. The five months in 2012 saw $318.25 million.

Kong Vibol, director-general of the GDT, echoed previous government statements by saying that the revenue increase is a reflection of more rigorous efforts on behalf of tax collection officers. He said the process could benefit from a more streamlined system in which payments are convenient and quick.

Critics of the tax collection process, however, have said the government is missing out on hundreds of millions of dollars because of corruption and inefficiency. In April, Son Chhay, the acting president of the Cambodia National Rescue Party, said the increase should be more than 100 per cent.

Chandararot said yesterday that tax losses could also occur because of a less developed collection system, accuracy of business reports and capacity of tax officers.

“However, this cannot serve to estimate the exact loss in terms of money.”

A GDT statement said revenues had been collected on income tax, value added tax, a special excise on merchandise and services, turnover, vehicle and patent taxes.

0

Comments

Please, login or register to post a comment

Latest Video

Bodies of Cambodian peacekeepers returned to Kingdom

The bodies of four Cambodian peacekeepers killed by a Christian militia in Central African Republic were repatriated to the Kingdom and honoured in an airport ceremony on May 21.

Phnom Penh eats: Ptas Nak Battambang

As the name suggests, Ptsa Nak Battambang – which in English means Battambang's house – is the right place for those who want to try some of the province's typical dishes in Phnom Penh.

Opposition leader Kem Sokha speaks at a rally yesterday in Kampong Chhnang provinc

Opposition leader Kem Sokha said in an interview yesterday that his party is aiming to win more than 60 percent of the votes cast at the June 4 com