Logo of Phnom Penh Post newspaper Phnom Penh Post - Tax services in demand as gov’t ups collection

Tax services in demand as gov’t ups collection

Tax services in demand as gov’t ups collection

Tax service firms are seeing an increase in business as the General Department of Taxation (GDT) continues to push individuals and enterprises to register for online payments.

Clint O’Connell, partner at law firm VDBLoi, said the government’s push has undoubtedly led to increased demand for professional tax services.

“The cumulative effect of the GDT’s push to ensure more taxpayers enter into the real regime tax system, as evidenced for example by the recent tax registration changes, has already led to an increase in the number of businesses seeking assistance from professional tax services firms in Cambodia,” O’Connell said.

He added that new requirements for tax agents to now be registered with the GDT had also had a positive effect on services demand.

It comes after Kong Vibol, director general at the GDT, on December 9 urged a room full of 1,000 companies in Phnom Penh to register for payments via the government’s new online tax registration portal, touting the service as a more transparent method of revenue collection.

State-run media agency AKP reported last week that he GDT had raised $1 billion in taxes during 2014 and expects to raise more than $1.2 billion next year.

The GDT has in recent months installed a raft of reforms aimed at improving tax collection methods including the new electronic registration system, taxpayer ID cards, financial incentives for GDT auditors and stiff, retroactive penalties for tax-dodging firms.

MOST VIEWED

  • Stock photo agencies cash in on Khmer Rouge tragedy
    Stock-photo companies selling images from S-21 raises ethics concerns

    A woman with short-cropped hair stares directly into the camera, her head cocked slightly to the side. On her lap is a sleeping infant just barely in the frame. The woman was the wife of a Khmer Rouge officer who fell out of favour, and

  • Prime Minister: Take back islands from inactive developers

    The government will “take back” land on roughly 30 islands from private companies that have not made progress on planned developments, Prime Minister Hun Sen said in a speech on Monday that also targeted land-grabbing villagers and idle provincial governors. Speaking at the inauguration of the

  • Land on capital’s riverfront is opened up for investment

    The government has signed off on a proposal to designate more than 9 hectares of land along Phnom Penh’s riverfront as state-private land, opening it up for private investment or long-term leasing. The 9.25-hectare stretch of riverfront from the capital’s Night Market to the

  • Royal Group's Koh Rong luxury hotel officially opens

    The Royal Sands Koh Rong hotel on Monday marked its official launch as the first luxury resort on Cambodia’s most visited island. Prime Minister Hun Sen presided over the inauguration of the hotel, which has been open since December, and features rooms priced at