Logo of Phnom Penh Post newspaper Phnom Penh Post - Cambodia’s tax revenue enjoys rise once again

Cambodia’s tax revenue enjoys rise once again

Content image - Phnom Penh Post
The General Department of Taxation sits on the south-west corner of the intersection of Russian Federation Boulevard with Mao Tse Tung Boulevard in Tuol Kork district’s Teuk La’ak I commune. Heng Chivoan

Cambodia’s tax revenue enjoys rise once again

The General Department of Taxation (GDT) collected over $2 billion in tax revenue last year, up 13.37 per cent from the same period in 2017, according to a statement released by the department on Tuesday.

At the December 2018 tax collection revenue meeting, General Department of Taxation director-general Kong Vibol indicated that the department collected more than $2.19 billion from various streams of tax revenue, exceeding its target by over $274 million.

The report shows that in December alone, the GDT collected more than $142 million, an increase of $31 million compared to December 2017.

An average of 20%

According to the statement, tax collection revenues have increased an average of 20 per cent annually over the last five years, with $1.06 billion collected in 2014, more than $1.3 billion in 2015, $1.5 billion in 2016 and $1.97 billion in 2017.

Minister of Economy and Finance Aun Pornmoniroth, who attended the meeting, voiced his support for the GDT’s mission of an optimal yield this year through efficient implementation of tax revenue collection.

Pornmoniroth said the GDT must continue to modernise fiscal administration by studying information technology strategic plans to establish an integrated data centre for GDT.

He added that they must also update and perform additional studies on regulations which best support tax revenue collection management and continue to update all real estate data in the capital and regions subject to tax collection.

MOST VIEWED

  • Woman detained for murder of hairdresser over unpaid $1K debt

    A woman has been held in connection with the murder of a 40-year-old widow. The victim’s daughter claims the motive was the suspect’s unpaid four million riel ($1,000) debt to her mother. The 17-year-old girl, Pich Sievmey, said her mother, Koem Yaneang, a hairdresser

  • ‘Life goes on’ if Cambodia loses Everything But Arms

    Cambodia's business sector is exploring ways to mitigate any fallout from a possible loss of access to the EU’s Everything But Arms (EBA) agreement as talks continue before the 28-member bloc makes a final decision. The EU monitoring process is set to conclude in

  • Nesat beach: A magnet drawing tourists to the Kingdom’s coastline

    A white sandy beach lined by countless coconut trees awaits travellers off Cambodia’s southwest coast in Koh Kong province’s Srae Ambel district, about 170km from Phnom Penh. Over the past few years Nesat beach – a name inspired by a nearby fishing village – has

  • Woman confesses to murder, dismemberment over debt

    The daughter of a woman who was killed and dismembered in Phnom Penh earlier this month requested the authorities on Wednesday to impose the death penalty on the woman who killed her mother, after listening to the killer confess and describe her gruesome actions without