Logo of Phnom Penh Post newspaper Phnom Penh Post - Change mooted for receipt system

Change mooted for receipt system

Change mooted for receipt system

THE Ministry of Economy and Finance has finished a draft prakas aiming to standardise receipts for payments such as licensing fees and fines in a bid to increase transparency and government revenues.

Minister Keat Chhon said on Tuesday that the revamped receipt system would replace one that had been in place since 1984, and was set to become a standard system across the government. A standardised system of receipts would ensure the transparency required for payments ending up in the national treasury, he said.

“[Ongoing] economic and political improvements and subsequent reforms require a change in behaviour – especially changing the old habits,” he said. “Receipt revenue plays an important role for increasing internal revenue.”

The receipt system will specifically be issued for customers making non-taxation revenues, such as licensing and processing fees, fines, and other payments to any government ministry.  World Bank official Leah April agreed the receipts would assist the government in becoming more transparent in its revenue collection efforts.

MOST VIEWED

  • ‘Kingdom one of safest to visit in Covid-19 era’

    The Ministry of Tourism on January 12 proclaimed Cambodia as one of the safest countries to visit in light of the Kingdom having been ranked number one in the world by the Senegalese Economic Prospective Bureau for its success in handling the Covid-19 pandemic. In rankings

  • Kingdom accepts Chinese vaccine, PM first to get jab

    Prime Minister Hun Sen said China would offer Cambodia an immediate donation of one million doses of the Covid-19 vaccine produced by the Sinopharm company. In an audio message addressing the public on the night of January 15, he said Cambodia has accepted the offer and

  • Reeling in Cambodia’s real estate sector

    A new norm sets the scene but risks continue to play out in the background A cold wind sweeps through the streets of Boeung Trabek on an early January morning as buyers and traders engage in commerce under bright blue skies. From a distance, the

  • Hun Sen: Lakes filled in for national developments

    Prime Minister Hun Sen has announced continued operations to fill some lakes in Phnom Penh to create land for developments, though he is against the unrelated practice of damming rivers or blocking waterways. Speaking at the inauguration of the Ministry of Public Works and Transport

  • Koh Preus upgrades 70% complete

    Initial construction of a nearly $30 million tourism infrastructure project on Preah Sihanouk province’s Koh Preus Island is “about 70 per cent complete”, according to an official with the developer. Heng Thou, construction site manager of Angela Real Estate Co Ltd (ARE), told The Post that

  • Local media loses a giant, and The Post a great friend

    Cheang Sokha, a gifted and streetwise reporter who rose to the highest ranks of Cambodian media and was beloved for his sharp intelligence, world-class humour and endless generosity, died on Friday in his hometown of Phnom Penh. He was 42. His wife, Sok Sophorn, said he