Cambodia's New Law on Taxation 2023

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Cambodia's New Law on Taxation 2023

Post by CEOCambodiaNews »

Cambodia Tax Alert: Promugation of the New Law on Taxation

On the 16th of May 2023, the New Law on Taxation (“New Taxation Law”) was promulgated by Royal Kram No. NS/RKM/0523/004.

The New Taxation Law abrogates the Law on Taxation, promulgated by Royal Kram No. NS/RK/0297/03, dated February 24, 1997 (“Former Taxation Law”), and the Law on Amendment to the Law on Taxation, promulgated by Royal Kram No. NS/RK/0303/010, dated March 31, 2003.

The New Taxation Law consists of 20 Chapters and 255 Articles – a significant increase from the Former Taxation Law which consisted of 7 Chapters and 155 Articles.

While the New Taxation Law does not reflect a complete overhaul of the existing tax framework in Cambodia, the increase in Chapters and Articles are indictative of the underlying objective to fill in gaps and ensure consistency by centralizing existing tax regulations, international tax agreements and practices under the one law.

We set out below some of the key features of the New Taxation Law
New Chapters
As noted above, one of the main objectives of the New Taxation Law is to centralise information regarding the application and calculation of taxes under one regulation. This has resulted in the creation of additional chapters in the New Taxation Law dealing with Specific Tax, Public Lighting Tax, Accomodation Tax, Patent Tax, Tax on Advertising Billboards, Rental of Immovable Property and Tax on Immovable Property, Stamp Duty, Capital Gains Tax, Unused Land Tax and Transportation Tax.

The taxes outlined above already exist under current tax regulations with the main point being that they can now be accessed under the New Law on Taxation helping taxpayers to have easier access and understanding of their tax obligations.
Continued : https://www.dfdl.com/resources/legal-an ... -taxation/
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Re: Cambodia's New Law on Taxation 2023

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Land Tax Sanctions Waived for 2023
Cambodia News, Phnom Penh: The General Department of Taxation of the Ministry of Economy and Finance has decided to waive administrative sanctions (additional tax and interest) on property tax and unused land tax.

The announcement comes after social media players, especially citizens, criticized the General Department of Taxation for collecting taxes. Some are experiencing economic crisis in their livelihood.

According to the announcement of the General Department of Taxation on September 27, 2023: " Please be informed that the Ministry of Economy and Finance has decided to grant concessions to property owners to pay only taxes due without the administrative penalties (additional tax and interest) for both types of taxes until the end 2023. "

However, the General Department of Taxation invited property owners to register and declare the payment of property tax and unused land tax in 2023. From 2024 onwards, in case the property owner does not fulfill these two tax obligations by the date of exemption, administrative sanctions (additional tax and Interest) shall be in accordance with the laws and regulations in force.

Also, in case of any tax-related questions, please contact the Call Center at Call 1277 for free every working hour or live chat with GDT Live Chat.
https://kohsantepheapdaily.com.kh/article/1810981.html
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Re: Cambodia's New Law on Taxation 2023

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Further details on the above topic:
To assist property owners who are willing to fulfill their tax declaration obligations but have not yet submitted their tax returns, the General Department of Taxation has decided to postpone the expiration date of property tax and unused land tax for 2023 until 31/10/2023.

Property owners who have not yet fulfilled their obligation to register real estate or update real estate information and declare tax payment, please register or update their real estate information at the provincial tax branch where the property is located. Property owners who have already registered and updated their property information in the property data management system of the General Department of Taxation and have a property tax payment certificate are requested to declare their tax payment on time by 31/10/2023 at Provincial/Khan Tax Branch, where the property is located.

Tax payments can also be made online through the "GDT Taxpayer App," which can be downloaded from the App Store or Play Store or at any branch of ACLEDA Bank Plc, Canadia Bank Plc, Vattanac Bank, Kampuchea Public Bank Plc, SATHAPANA Bank Plc, Jet Strait Bank Plc, Cambodia Post Bank Plc, Vattanac Asia Bank Limited, or Foreign Trade Bank of Cambodia.
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Re: Cambodia's New Law on Taxation 2023

Post by John Bingham »

Tightening the screws.
Silence, exile, and cunning.
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Re: Cambodia's New Law on Taxation 2023

Post by newkidontheblock »

John Bingham wrote:Tightening the screws.
I believe you said this was nothing new when I mentioned it, and just move on ….
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Re: Cambodia's New Law on Taxation 2023

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newkidontheblock wrote: Thu Sep 28, 2023 9:15 pm
John Bingham wrote:Tightening the screws.
I believe you said this was nothing new when I mentioned it, and just move on ….
None of it is new. They are just deciding on when to enforce the taxes.
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Re: Cambodia's New Law on Taxation 2023

Post by Doc67 »

John Bingham wrote: Fri Sep 29, 2023 10:17 am
newkidontheblock wrote: Thu Sep 28, 2023 9:15 pm
John Bingham wrote:Tightening the screws.
I believe you said this was nothing new when I mentioned it, and just move on ….
None of it is new. They are just deciding on when to enforce the taxes.
I wonder if they have sought advice from foreign consultants from high-tax countries to help them get the most with the least effort in a short timespan. A good team of experts could really open their eyes to what they are missing out on.

They used to publish boastful figures about how much the GDT collected and the YOY % increases, but I haven't seen them lately. Maybe times are getting tough.
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