Logo of Phnom Penh Post newspaper Phnom Penh Post - Tax revenue surges once again amid investment

Tax revenue surges once again amid investment

Tax revenue surges once again amid investment

Tax revenue increased more than 20 per cent in the first five months of 2013 when compared with the same period last year, a rise that officials once again attributed to a surge in new business and investment.

According to data from the General Department of Taxation (GDT), the total tax revenue from January through May amounted to $394 million, a rise of nearly 24 per cent. The five months in 2012 saw $318.25 million.

Kong Vibol, director-general of the GDT, echoed previous government statements by saying that the revenue increase is a reflection of more rigorous efforts on behalf of tax collection officers. He said the process could benefit from a more streamlined system in which payments are convenient and quick.

Critics of the tax collection process, however, have said the government is missing out on hundreds of millions of dollars because of corruption and inefficiency. In April, Son Chhay, the acting president of the Cambodia National Rescue Party, said the increase should be more than 100 per cent.

Chandararot said yesterday that tax losses could also occur because of a less developed collection system, accuracy of business reports and capacity of tax officers.

“However, this cannot serve to estimate the exact loss in terms of money.”

A GDT statement said revenues had been collected on income tax, value added tax, a special excise on merchandise and services, turnover, vehicle and patent taxes.

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