Logo of Phnom Penh Post newspaper Phnom Penh Post - Singapore tech to increase national tax revenue

Singapore tech to increase national tax revenue

Content image - Phnom Penh Post
The General Department of Taxation (GDT).

Singapore tech to increase national tax revenue

The General Department of Taxation (GDT) is sourcing for an advanced IT system in Singapore to modernise the Kingdom’s tax system and improve its collection process and efficiency.

GDT director-general Kong Vibol led a delegation on a three-day learning visit from November 27 to 29 in Singapore and toured the country’s data management centre Starhub and Vertiv (Singapore) Pte Ltd.

The delegation learnt data management and maintenance, the efficiency of applying technology for tax matters via smart devices, data analysis and the utilisation of Artificial Intelligent (AI) to improve the overall quality of the GDT.

The visit reflected that GDT’s continuous efforts to modernise its taxation system by adopting automation to quicken the process for taxpayers and the department.

The government recently announced the target of increasing its tax revenue by 20 per cent next year.

At the Fourth Tax 2019 Forum held at the Great Duke Hotel in late November, Vibol said he had successfully modernised the departments’ IT management system to ensure transparency in managing taxpayers’ data.

“I think we now have a tax system that is supported by IT which ensures fast and accurate services.

“The E-filing programme stores data automatically and does automated calculations. And, previously there was bribery involved to avoid paying taxes, but now we have a transparent system,” he said.

At the same time, Vibol said to increase more tax revenue, the GDT will audit companies operating in Cambodia at least once a year.

The purpose, he said, is to assess company risk as the department has observed that many had forged tax payments. However, he did not name them.

A GDT report noted that the government collected $2.4 billion in tax revenue in the first 10 months of 2019 – a 28.31 per cent increase from the $1.873 billion recorded in the same period a year ago.

Over the last five years, Cambodia has experienced a tax revenue growth of 20 per cent per annum.

In 2014, tax revenue collection was $1.06 billion and it increased to $1.3 billion in 2015, $1.5 billion in 2017, 1.97 billion in 2018, and rose to $2.19 billion in 2018.

MOST VIEWED

  • NagaWorld casinos set to reopen, schools to follow

    NAGACORP Ltd has requested that it be allowed to reopen its NagaWorld integrated resorts in Phnom Penh after the government recently approved casinos to operate again, provided they follow Covid-19 prevention measures set by the Ministry of Health. Mey Vann, the director-general of the Ministry

  • ASEM supports Kingdom’s proposal to postpone meeting amid Covid

    The 13th Asia-Europe Meeting (ASEM13) scheduled to be held in Cambodia in November has been postponed until mid-2021 due to the Covid-19 pandemic, a Ministry of Foreign Affairs and International Cooperation press statement released on Saturday said. The decision was made during a two-day meeting

  • Coffee maker roasted for producing fake product

    The Ministry of Interior’s Counter Counterfeit Committee will send a suspect to court on Monday after she allegedly roasted coffee mixed with soybeans and other ingredients, creating a product which could pose a high risk to consumers’ health. On the afternoon of July 2, the

  • Cambodia armed with money laundering laws

    Money laundering will now carry a penalty of up to five years in prison while those convicted of financing terrorists will be jailed for up to 20 years, according to new laws promulgated by King Norodom Sihamoni and seen by The Post on Thursday. Comprising nine

  • Schools to be reopened in ‘three stages’

    With guidance from Prime Minister Hun Sen, the Ministry of Education, Youth and Sport, is in the process of reopening schools in three stages. But no timeline has been set, ministry spokesperson Ros Soveacha said on Thursday. Soveacha said the first stage will be to

  • Thai border crossings eased

    The Cambodian Embassy in Thailand said in an announcement on Wednesday that Thailand’s government has allowed certain passengers from several countries to enter its borders. The visitors must go back to their country immediately after their duties in Thailand are fulfilled, the embassy said.

  • Gov’t says tourism recovers slightly despite pandemic

    The Ministry of Tourism and the Phnom Penh municipal administration have recognised 33 tourism businesses in the capital which have consistently implemented safety measures for tourists and adhered to the code of conduct issued by the ministry. Recently, the ministry announced that tourism businesses had to

  • Mull ASEAN border opening, PM urges

    Prime Minister Hun Sen has requested that ASEAN launch a scenario for gradually reopening cross-border travel and trade between countries in the region. He said ASEAN has had more success combating Covid-19 compared to other regions. The prime minister’s request was made at the

  • Ministry reports 11 new Covid-19 cases, reiterates vigilance

    Minister of Health Mam Bun Heng has urged people to continue practising virus prevention techniques after 11 people tested positive for Covid-19 within two days after arriving in the Kingdom. Speaking on Sunday, Bun Heng stressed the importance of washing hands, wearing masks or scarves when

  • Koh Rong land ‘belongs to firm’

    Preah Sihanouk Provincial Administration spokesperson Kheang Phearum told The Post on Sunday that the 35ha being bulldozed by Royal Group Co Ltd in Koh Rong belongs to it after it was leased to it for 99 years by the government in 2008. Phearum said the land does