Logo of Phnom Penh Post newspaper Phnom Penh Post - Pay property, unused land taxes by Sept 30: GDT



Pay property, unused land taxes by Sept 30: GDT

Content image - Phnom Penh Post
The General Department of Taxation (GDT) has issued a fresh call for property owners nationwide to declare and pay their immovable property and unused land taxes for 2022 on or before September 30 to avoid legal penalties. Heng Chivoan

Pay property, unused land taxes by Sept 30: GDT

The General Department of Taxation (GDT) has issued a fresh call for property owners nationwide to declare and pay their immovable property and unused land taxes for 2022 on or before September 30 to avoid legal penalties.

In a July 12 notice, the GDT asked taxpayers to settle their tax obligations promptly to avoid the last-minute rush, at the department or the provincial or district branches corresponding to the locality where the assets are located, or at any participating banks.

Cambodian Valuers and Estate Agents Association (CVEA) president Chrek Soknim commented that the annual declaration and payment of immovable property and unused land taxes is a property owner’s “inescapable obligation” and an “essential” means of working with the government to revive the national economy, no matter the circumstances.

Soknim told The Post on July 14 that local real estate transactions seem to be in slow gear, whereas those in the land segment are seen to be the most active, in trends he attributed to the scant share of foreigners among investors. Despite the slowdown, he rubbished claims that the real estate sector was in a slump.

Likewise, Noun Rithy, president and CEO of real estate investment agency Khmer Foundation Appraisals Co Ltd, called on property owners to properly fulfill their tax obligations on time to avoid fines.

“Annual tax payments are not a form of pressure or a heavy burden, and the state has yet to raise any of the related taxes. On the contrary,it’s only offered delays and relief to ease the plight of the people in these trying times,” he told The Post on July 14.

The GDT recently reported that it collected 6.99406 trillion riel ($1.72693 billion) in tax revenue over the January-May period, marking a 1.52630 trillion riel or 27.9 per cent rise year-on-year and corresponding to 61.25 per cent of the full-year target of nearly 11.42 trillion riel.

MOST VIEWED

  • Typhoon Noru brings flash floods – 16 dead

    An official warned that that the 16th typhoon of the season, Noru, had brought heavy rains to areas the Mekong River and flooded thousands of homes in the provinces bordering Thailand. As of September 27, the death toll from the flooding had risen to 16. National Committee

  • Siem Reap drain canal now ‘mangrove’ promenade

    A more than half a kilometre long stretch of canal in Siem Reap has been covered and turned into a promenade to attract visitors, said Ly Rasmey, secretary of state at the Ministry of Land Management, Urban Planning and Construction, on September 16. The new pedestrianised

  • Angkor wildlife, aquarium park still to open October

    The Angkor Wildlife and Aquarium complex about 30km southeast of Siem Reap town with initial total investment of more than $70 million is reportedly still on track for an end-October opening. The park is located on a 100ha plot along National Road 6 in Kbon village, Khchas

  • Defence minister reaffirms Kingdom’s staunch support for One-China policy

    Minister of National Defence General Tea Banh has reaffirmed Cambodia’s unwavering support for the One-China policy. Tea Banh was speaking at the September 20 ceremonial handover of 117 vehicles and other military equipment donated by China’s defence ministry, held at Phnom Chumreay International Military Training

  • Deaths due to ‘lifestyle’ diseases rise in Kingdom

    The Ministry of Health has called on people to pay closer attention to their health to protect themselves from non-communicable diseases (NCDs) which it said have caused high rates of deaths in the country. Ministry secretary of state York Sambath made the call at a

  • Textile industry minimum wage now $200

    The official minimum wage for workers in textile-related sectors including garment, footwear, and travel goods for 2023 was pegged at $198, with Prime Minister Hun Sen stepping in to add $2 to the total, making it $200 per month. The Ministry of Labour and Vocational Training made the announcement