Logo of Phnom Penh Post newspaper Phnom Penh Post - The tax man cometh...

The tax man cometh...

The tax man cometh...

H AVE you paid your income tax yet? If not, you're in a spot of bother. According

to the tax office, most everyone - foreigners included - owe income tax under

the new financial law.

Foreigners and locals alike are now subject to

income tax - five percent on a monthly salary starting at $300 and up to $400;

ten percent up to $4000; and 20 percent on a monthly income of $4001 and

above.

The tax office says the new tax regime started from January, so

therefore people owe for January, February and March.

However, the Post

analysis shows a two month moratorium existed since the law was passed in

December; even so, everyone owes taxes for March onwards.

Politicians,

however, will not have to pay; neither will civil servants, according to a

senior official from the tax department who would not be named.

For those

who have not yet started paying tax - and the official said it was up to

employers to register all their salaried workers - the tax department will be

tracking people down.

And there will be punishments: fines, and even

confiscation of personal goods to the value of the debt "to those who repeatedly

refuse to pay their taxes," the official said.

Taxes will have to be paid

by the 15th day of the following month "at the latest," he said.

Tax

collectors - who are never usually the world's most popular people - will also

have a unusual new weapon to use: they can ask your bank, investment company or

trustee to give them your money to pay outstanding taxes.

The good news?

Well... the taxes are cheaper than in Vietnam and Thailand, and probably cheaper

than your own home country too.

MOST VIEWED

  • EU officials: Ending EBA an 18-month procedure

    EU officials have confirmed that it will take a total of 18 months to complete the procedure if Cambodia’s preferential Everything But Arms (EBA) trade agreement is to be withdrawn. According to EU Agriculture and Rural Development spokesman Daniel Rosario, the formal process has not

  • IPU slams government claim

    The president of the Inter-Parliamentary Union (IPU), Gabriela Cuevas Barron, has refuted a claim by the National Assembly that she “highly appreciated the achievements of Cambodia” in its July national elections with a tweet saying “Of course not!” before adding “No congratulations”. A delegation from

  • Conflict lingers on Paris Accords

    As the Kingdom prepares to commemorate on October 23 the 27th anniversary of the signing of the 1991 Paris Peace Accords, which ushered in an end to nearly two decades of civil war, there is political conflict on whether the tenets of the agreement are still being

  • EU agrees VN trade deal despite rights concerns

    The EU on Wednesday agreed to a free-trade agreement (FTA) with Vietnam, a country described as having a “major rights-abusing government”. This comes amid the 28-nation bloc preparing the procedure for a possible withdrawal of Cambodia’s Everything But Arms (EBA) preferential trade agreement on