Logo of Phnom Penh Post newspaper Phnom Penh Post - Japan wraps up tax audit project

Japan wraps up tax audit project

Japan wraps up tax audit project

Cambodia’s General Department of Taxation and the Japan International Cooperation Agency yesterday completed a more than three-year project to improve taxpayer services and increase tax audit capacity of the government entity.

The project, started in September 2011, is the third to be completed between the two entities, with plans under way to renew it come August, according to a press release.

Adachi Itsu, chief representative of Japan International Cooperation Agency (JICA) in Cambodia, said that going forward two Japanese experts will help the tax department strengthen tax education and further improve tax services.

“Now Cambodia is becoming a low-middle income country, it shows that Cambodian government has a sufficient budget from the tax payers rather than assistance,” Itsu said.

Itsu added that increasing tax collections will be critical after the ASEAN Economic Community integration, as customs revenues could drop given that member states will begin to enjoy customs exemptions within the regional bloc.

“After the ASEAN Economic Community integration, it shows that national tax collection can be more important to keep the same volume of national budget,” he said.

Kong Vibol, director-general of the General Department of Taxation, said the projects have been fruitful in that they have helped broaden tax officers’ knowledge on accounting practices and taxation auditing.

“GDT will carry out more training for tax officers and staff to enhance tax collection and it is a part of our task to do so,” Vibol said.

Srey Chanthy, an independent economic analyst, said progress made under JICA’s technical support will not come into effect immediately.

“If we compare our tax collection system to Thailand, Singapore and Malaysia, we are weak.

Thus, we have to strengthen this tax collection system,” Chanthy said.

Tax collections for 2014 were nearly $994 million and as of the first half of this year the government had collected $707 million, up 38.5 per cent from the same period last year.

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

  • Artificial insemination takes herd from 7 to 700

    Some farms breed local cows or even import bulls from a broad for the purpose of breeding heavier livestock for meat production. One Tbong Khnum farmer has found a more efficient way. Hout Leang employs artificial insemination to fertilise local cows. Thanks to imported “straws”

  • 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