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Cambodia tax system worse off

Cambodia tax system worse off

Cambodia's taxation system fell five places on the World Bank’s 2015 Doing Business index (DBI).

The index, which tallied up 230 business reforms from 189 economies, showed the ease of paying taxes in Cambodia has declined from position 85 in 2014 to 90 this year. Cambodia’s overall ease of doing business ranking declined from position 134 to 135.

“An economy’s success or failure depends on many variables; among these, often overlooked, are the nuts and bolts that facilitate enterprise and business,” Kaushik Basu, senior vice president and chief economist of the World Bank said in a press statement.

“By this I mean the regulations that determine how easy it is to start a business, the speed and efficiency with which contracts are enforced, the paperwork needed for trade, and so on.”

The Kingdom’s taxation system was among nine other areas of Cambodia’s business environment that also recorded declines on the DBI.

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