Logo of Phnom Penh Post newspaper Phnom Penh Post - Revenues from taxes up 12pc in December

Revenues from taxes up 12pc in December

Revenues from taxes up 12pc in December

IMPORT and export tax revenues increased by an annualised 12 percent last month, according to figures released Monday by the General Department of Customs and Excise (GDCE).

December 2009 saw tax revenues of US$53.5 million, a 12 percent or $5 million increase on the same month in 2008.

A Monday press release said customs and excise revenues totalled $597.5 million in 2009. Last year, the director general of GDCE told the Post that the Kingdom had collected more than $500 million.

GDCE added that fines, earned from crackdowns on illegal goods, had doubled to $5.5 million in the past year.

But Yim Sovann, a parliamentarian for the Sam Rainy Party, said the revenues were very low compared to the Kingdom’s GDP, which was more than $10 billion in 2008. He said that in neighbouring countries such as Thailand and Vietnam, customs and excise revenues were more than 20 percent of GDP.

“If there was no rampant corruption, no offers of goods as bribes for corrupt officials, no powerful officials using power to intervene in the importation or exportation of goods, then customs and excise revenues would be at least 20 percent [about $2 billion] of Cambodia’s GDP,” Yim Sovann said.

Pen Simon, GDCE’s director general, did not reply to repeated calls Tuesday. His deputy Kum Nhem declined to comment.

The government has stated in recent years that it plans to more strictly enforce tax regulations in a bid raise state revenues.

According to the data, customs and excise revenues declined 22 percent to $280 million in the first half of 2009, due to a downturn in vehicle imports and construction materials.

This trend reversed from July to December.

MOST VIEWED

  • ‘Education’ a priority traffic-law penalty

    A top National Police official on June 21 neither rejected nor confirmed the authenticity of a leaked audio message, which has gone viral on social media, on a waiver of fines for a number of road traffic-related offences. General Him Yan, deputy National Police chief in

  • Siem Reap’s $18M zoo said to educate public, help wildlife

    Angkor Wildlife and Aquarium Co Ltd has invested $18 million in a zoo in Siem Reap province, which will be opened in October to educate and promote animal conservation as well as attract national and international tourists. Currently, the Angkor Wildlife and Aquarium is building the

  • Volunteer scheme to foster ‘virtuous’ humanitarian spirit

    A senior education official said volunteer work contributes to solidarity and promotes a virtuous humanitarian spirit among the youth and communities. Serei Chumneas, undersecretary of state at the Ministry of Education, Youth and Sport, made the comment during the opening of a training programme called “

  • Chinese firms unveil preliminary results on metro, monorail for capital

    Minister of Public Works and Transport Sun Chanthol and representatives from China Road and Bridge Corp (CRBC) and its parent company, the state-owned China Communications Construction Co Ltd (CCCC), met on June 24 for talks on results of the firms’ preliminary study on a potential metro

  • Nestle’s debut may spur dairy market

    Leading confectionery manufacturer Nestle plans to invest in Cambodia by setting up an operation in the near future, a move majorly hailed by local dairy farmers as a means of boosting the fresh milk market in the Kingdom. During a visit by a delegation led

  • ACLEDA, WU to enable global money transfers

    Cambodia's largest commercial bank by total assets ACLEDA Bank Plc and global money transfer firm Western Union (WU) have partnered to offer customers cross-border money transfers to 200 countries via “ACLEDA mobile” app. In Channy, president and group managing director of ACLEDA, said the June 22 agreement