Logo of Phnom Penh Post newspaper Phnom Penh Post - Over $1B collected in tax revenue

Over $1B collected in tax revenue

Content image - Phnom Penh Post
Traffic passes by the General Department of Taxation headquarters in Phnom Penh. Supplied

Over $1B collected in tax revenue

The Cambodian government collected more than $1 billion in tax revenue in the first five months of the year, an increase of more than 12 percent compared to the same period last year, according to a monthly report from the General Department of Taxation (GDT) released on Friday.

Tax collection for May reached $134 million, which is up $16 million from last year, the report showed.

On pace for strong yearly growth, the GDT collected $1.04 billion through May, which is 54 percent of its yearly target.

Reform drive

The Tax Department has undertaken a series of reforms to increase revenue in recent years, including conducting audits of businesses in the country and launching an online collection platform.

Last year the Tax Department collected $1.93 billion in revenue, a 30 percent increase over 2016. That figure exceeded even the department’s own projections.

MOST VIEWED

  • Khmer New Year holidays postponed

    In an effort to halt Covid-19 infections in the Kingdom, Prime Minister Hun Sen has postponed the Khmer New Year holidays scheduled from April 13 to 16. While the people will not have their usual break, nor will there be any public celebrations or gatherings at pagodas,

  • No word on state of emergency

    The National Assembly (NA) said it will postpone all unnecessary meetings in line with guidance from the Ministry of Health and the World Health Organisation (WHO) amid the Covid-19 pandemic. However, it did not say when or how it will debate the “state of emergency”

  • State of emergency draft law set for NA

    A draft law aiming to place the Kingdom in a state of emergency amid the Covid-19 pandemic is set for a debate at the National Assembly (NA) after going through the Council of Ministers’ Standing Committee meeting led by Prime Minister Hun Sen on Tuesday.

  • NA, Senate set for bill on ‘emergency’

    Prime Minister Hun Sen has requested the Senate to convene an extraordinary meeting to review the draft law that aims to put the Kingdom in a state of emergency after the bill reached the National Assembly (NA) on Friday. The draft law, which was approved

  • Hun Sen, ministers, officials donate salaries in virus fight

    Prime Minister Hun Sen and other senior government officials have decided to donate their salaries to the National Committee for Combating Covid-19 in support of the ongoing battle against the coronavirus. Hun Sen announced in an April 1 letter that because the Covid-19 situation in Cambodia

  • Tourists can now prolong their stay

    The Ministry of Foreign Affairs and International Cooperation said tourists holding Visa T and arriving in the Kingdom after January 1 will be allowed to prolong their stay until they are able to return home. The decision comes as Cambodia and most countries take measures to