Logo of Phnom Penh Post newspaper Phnom Penh Post - New tax collection system set

New tax collection system set

Content image - Phnom Penh Post
GDT director-general Kong Vibol (left) and finance ministry secretary of state Hean Sahip will work together to link key ministries and provincial treasuries to upgrade the budget, accounting and auditing process for public financial management via the new FMIS and tax data management system. Photo supplied

New tax collection system set

The Cambodian government launched a Financial Management Information System (FMIS) and tax data management system to streamline government financial information.

The intention is to link key ministries and provincial treasuries to upgrade the budget, accounting and auditing process for public financial management.

Ministry of Economy and Finance secretary of state Hean Sahip, who presided over the launch said last Tuesday the FMIS has been implemented within all core institutions involved in finance and budgets nationwide.

The FMIS connects to the National Bank of Cambodia, other partnered commercial banks, public debt management systems and non-fiscal tax revenue management systems.

“The system is proving successful in terms of public management reform policy and tax revenue efficiency,” he said.

General Department of Taxation (GDT) director-general Kong Vibol said his department has been upgrading modernisation and automation when it comes to tax revenue collection.

He said: “The General Department of Taxation has provided the mediation tool between the General Department of Customs and Excise on the revenue collection system and will introduce the vehicle management system for the Ministry of Public Works and Transport in the future.”

The vehicle management system refers to the registering and selling of vehicles.

Anthony Galliano, group CEO of corporate finance firm Investment Management, told The Post on Sunday that the FMIS is a pivotal achievement in the expeditious and efficient management of government financial information.

He said: “The benefits will initially be realised in the public sector, particularly in automation and productivity gains, greatly improved oversight and transparency of information, and more expedient handling and processing of key government revenue data.

“Information is undoubtedly a valuable tool, so subsequently I would expect FMIS to expand into further areas of revenue collection data that will impact the private sector.

“The private sector will benefit by what will be a vast improvement of the processing of public financial management, which can result in improved efficiency in government ministries and provincial treasuries, and consequently an upgraded and improved service to the private sector.”

Cambodia collected $6 billion in tax revenue last year, up more than $1.48 billion from the government’s $4.56 billion target.

The General Department of Customs and Excise took in $2.26 billion while the GDT netted $2.3 billion.


  • Angkor lifetime pass, special Siem Reap travel offers planned

    The Ministry of Tourism plans to introduce a convenient, single lifetime pass for foreign travellers to visit Angkor Archaeological Park and potentially other areas. The move is designed to stimulate tourism to the culturally rich province of Siem Reap as the start of the “Visit

  • ASEAN Foreign Ministers’ meet commences, Taiwan issue possibly on table

    The 55th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings hosted by Cambodia kicks off in Phnom Penh on August 3, with progress, challenges, and the way forward for the ASEAN Community-building on the table. Issues on Taiwan, sparked by the visit of US House Speaker

  • Pailin longan winery tries to break through to the big time

    Longan aren’t quite as glamorous as some fruits. They don’t have the star-power of mangos or generate the excitement of a pricey seasonal niche fruit like the pungent durian. Unlike bananas or oranges, which are known and loved everywhere, longan remains a decidedly

  • Recap of this year’s ASEAN FM meet and look ahead

    This year’s edition of the ASEAN Foreign Ministers’ Meeting (AMM) hosted by Cambodia comes against the backdrop of heightened global tensions and increasing rivalry between major powers that have been compared to the animosity of the Cold War era. The following is The Post’

  • Debt restructuring over, time to tackle rising NPL ratio

    The Cambodian banking system has just completed a 26-month debt restructuring exercise where scores of loan accounts were revised, classified and provisioned as the rate of non-performing loans inched up, sparking a slight credit risk unease Implemented in April 2020, the Covid-19 debt restructuring measures came

  • Koh Slaket studio resort brings culture with style

    Davitra (Cambodia) Co Ltd’s multi-million-dollar 13ha Koh Slaket studio-cum-resort just east of the capital was inaugurated in the first phase on August 6, providing national and international tourists with a new travel option and job opportunities for locals. The man-made cultural and scenic lakefront getaway