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

  • US imposes sanctions on Oknha Pheap and Kun Kim

    The Ministry of Foreign Affairs and International Cooperation expressed strong dismay on Monday over the designation of Cambodian tycoon Oknha Try Pheap and General Kun Kim under the US’ Global Magnitsky Act. “It is very disturbing when the public figures of a country become the

  • Rights Day forum denied in Sihanoukville

    The Preah Sihanouk provincial administration last Saturday denied the request of land communities for a public location in the province to celebrate International Human Rights Day 2019 as the administration had already held forums to discuss land issues. However, the land community representatives said they would

  • Gov’t approves $9B worth of building projects in 2019

    The government has approved more than $9 billion this year for capital investment in the construction sector, a nearly 80 per cent increase on last year, with most of the growth coming from projects in Sihanoukville, according to Minister of Land Management, Urban Planning and Construction Chea

  • PP residents urged to use public transport

    Minister of Public Works and Transport Sun Chanthol has urged Phnom Penh residents to use the capital’s existing public transport services rather than private vehicles, as it is leading to increased traffic congestion. He also called for the city’s public bus system to

  • Kingdom calls on Japan to increase number of direct flights to Siem Reap, Phnom Penh

    Cambodia is requesting Japan to increase the number of direct flights from Japanese cities and provinces to Phnom Penh and Siem Reap, so as to contribute to increasing cooperation and tourist numbers between the two countries. During the opening ceremony of 3rd Japan Travel Fair

  • Sierra Leone potential new market for export of Cambodian milled rice

    Sierra Leone plans to import milled rice from Cambodia for domestic consumption. The request was made when the visiting Sierra Leone Ambassador to China Ernest Ndomahina met Cambodian Minister of Commerce Pan Sorasak on Wednesday at the ministry. Ndomahina said his country’s agricultural sector