Logo of Phnom Penh Post newspaper Phnom Penh Post - GDT to businesses: Pay tax by year-end or face shutdowns

GDT to businesses: Pay tax by year-end or face shutdowns

Content image - Phnom Penh Post
GDT director-general Kong Vibol. Heng Chivoan

GDT to businesses: Pay tax by year-end or face shutdowns

The General Department of Taxation (GDT) on November 28 issued a fresh warning to business owners to pay their tax bills by year’s end or face temporary or permanent closure, and other legal repercussions.

These include a temporary hold on company registrations, share transfers, or property-transfer stamp duty payment requests; the suspension of business-related import-export operations, or value-added tax (VAT) certificates without the possibility of a refund or tax credit; or further legal action in court, the GDT said in a notice.

The notice stressed that the department would involve other government agencies as needed to enforce these penalties, including the General Department of Customs and Excise (GDCE) and National Bank of Cambodia.

The GDT told business owners to pay their levies at the Department of Large Taxpayers, Department of Small and Medium Taxpayers, or provincial or district tax branches, as applicable.

“Most enterprises have come to pay their tax debts with a high sense of responsibility, but there are still some that have not … even though the [GDT] has issued letters to them on several occasions,” the notice said, adding that paying taxes “is the duty of every citizen, and contributes to national economic development in all fields”.

In a November interview with The Post, GDT director-general Kong Vibol vowed that his department would continue to make its reforms more sweeping, and stick to its modernisation plans to better manage the collection of an increasing amount of taxes, provide improved services, and encourage proper tax registration.

“We’re carrying out this modernisation to improve taxpayers’ voluntary compliance, making paying taxes more transparent, and instilling confidence that the money actually makes it into state coffers.

“We’ve modernised a suite of IT systems [to] make it harder for taxpayers to evade taxes,” he said.

Vibol vowed to personally work hard to reform human resource management, modernise applicable technologies, and promote tax culture, transparency and especially good governance.

The GDT posted $2.946 billion in revenues this year as of October 31 – up 26.9 per cent year-on-year – which it noted is 104.48 per cent of the 2022 full-year target of nearly $2.820 billion, or 11.419 trillion riel.

On September 28, Vibol had disclosed that the GDT had revised up its full-year revenue estimate to a range of 110-115 per cent of the target. For reference, the department reported that it collected 124.02 per cent of the full-year target for 2021.

MOST VIEWED

  • Cambodia maintains 'Kun Khmer' stance despite Thailand’s boycott threat

    Cambodia has taken the position that it will use the term "Kun Khmer" to refer to the sport of kickboxing at the upcoming Southeast Asian (SEA) Games, and has removed the term Muay from all references to the sport. Despite strong reactions from the Thai

  • Chinese group tours return to Cambodia starting Feb 6

    Cambodia is among 20 countries selected by Beijing for a pilot programme allowing travel agencies to provide international group tours as well as flight and hotel packages to Chinese citizens, following a three-year ban. As the days tick down until the programme kicks off on February 6,

  • Capital-Poipet express rail project making headway

    The preliminary results of a feasibility study to upgrade the Phnom Penh-Poipet railway into Cambodia’s first express railway indicate that the project would cost more than $4 billion and would take around four years to complete. The study was carried out by China Road and

  • Thai boxers to join SEA Games’ Kun Khmer event

    The Cambodian SEA Games Organising Committee (CAMSOC) – together with the Kun Khmer International Federation (KKIF) and Khmer Boxing Federation – have achieved a “great success” by including Kun Khmer in the upcoming biennial multi-sports event on its home soil for the first time, said a senior

  • Bullets to bracelets: Siem Reap man makes waste from war wearable

    Jewellery is often made from valuable gemstones like emeralds or diamonds and precious metals like gold or silver, or valueless things like animal horns. But a man in Siem Reap has approached the manufacture of delicate pieces from a different angle. His unique form of

  • 61% of 2022 imports came from just 3 markets

    The three largest exporters to Cambodia – mainland China, Vietnam and Thailand – accounted for 60.94 per cent of the Kingdom’s total merchandise imports last year, at $18.245 billion, which was up 11.99 per cent over 2021, according to the General Department of Customs and Excise. Cambodia’s total imports