binzter wrote: ↑Fri Aug 31, 2018 4:40 am

Gaudente wrote: ↑Tue Dec 23, 2014 1:30 pm Given that there is a 14% withholding tax on interest for non residents (opposed to a 6% only rate for residents) non residents should be able to open a bank account.

Is it enough to have resident-visa only when withdrawing to get lower (6%) tax rate?

Element6 wrote: ↑Mon Sep 17, 2018 10:22 am

Gaudente wrote: ↑Tue Dec 23, 2014 1:30 pm Given that there is a 14% withholding tax on interest for non residents (opposed to a 6% only rate for residents) non residents should be able to open a bank account. I mean, if they were not , why bother with a punitive tax rate on their interest earnings ?

This is referring to your status as a tax resident or not. If you are in the country for 183 days or more in a tax year then you are considered as a resident for taxation purposes and therefore subject to the lower rate. If you are in the country 182 days or less in a tax year then you are a non resident for ta purposes and are therefore subject to the higher rate.

You can hold of the necessary paperwork for residency and still be a non resident for tax purposes if you are in the country 182 days or less. Similarly you can hold non of the paperwork for residency and still be a resident for tax purposes if you spent 183 days or more in the country.

The tax residency status and actual residency status (ie living in the country or not) are two separate things.

For tax purposes, people are considered residents of Cambodia if they have a principal place of abode in Cambodia or are present more than 182 days in the country in any 12-month period ending in the current tax year.

PSD-Kiwi wrote: ↑Mon Sep 17, 2018 12:39 pm

For tax purposes, people are considered residents of Cambodia if they have a principal place of abode in Cambodia or are present more than 182 days in the country in any 12-month period ending in the current tax year.