Beer, wine, and cigarette taxes to be reduced
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Beer, wine, and cigarette taxes to be reduced
Tax rate cut for tobacco, alcohol distributors
12 October 2017
The government has offered local distributors of cigarettes and alcohol some slack by reducing the tax obligation on secondary distribution of their products.
A prakas issued late on Tuesday by the General Department of Taxation (GDT) revises the application of the public lighting tax (PLT), a 3 percent tax that is applied to the invoices of both imported and locally produced tobacco and alcohol products and levied at the time of each in-country sale. Under the revision, primary distributors of these products will continue to pay PLT on the full value of these products, while the tax base for calculating the PLT on secondary distribution will be reduced from 100 percent to 20 percent of the selling price exclusive of VAT and PLT.
The prakas applies to beer, wine and certain alcoholic spirits, as well as cigarettes and all types of electronic cigarettes – or e-cigarettes – which have been banned by the government since 2014.
“The obvious benefit to the distributors is that the amount of tax that they were paying will decrease,” he said. “This saving will either be kept by the distributor or passed on to the end consumer. If the savings are passed onto the consumer it is good for producers as it may make their products more competitive and increase sales.”
http://www.phnompenhpost.com/business/t ... stributors
12 October 2017
The government has offered local distributors of cigarettes and alcohol some slack by reducing the tax obligation on secondary distribution of their products.
A prakas issued late on Tuesday by the General Department of Taxation (GDT) revises the application of the public lighting tax (PLT), a 3 percent tax that is applied to the invoices of both imported and locally produced tobacco and alcohol products and levied at the time of each in-country sale. Under the revision, primary distributors of these products will continue to pay PLT on the full value of these products, while the tax base for calculating the PLT on secondary distribution will be reduced from 100 percent to 20 percent of the selling price exclusive of VAT and PLT.
The prakas applies to beer, wine and certain alcoholic spirits, as well as cigarettes and all types of electronic cigarettes – or e-cigarettes – which have been banned by the government since 2014.
“The obvious benefit to the distributors is that the amount of tax that they were paying will decrease,” he said. “This saving will either be kept by the distributor or passed on to the end consumer. If the savings are passed onto the consumer it is good for producers as it may make their products more competitive and increase sales.”
http://www.phnompenhpost.com/business/t ... stributors
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